Hi chinkiat,
You are right and that is about 10% of CSM profit year before last in one day. CSM is now a powerhouse. As PMM management push their share price up to keep away from CSM they hand CSM 15% of the gain because of the direct shareholding in PMM.
What if PMM realise this and look to buy 19.9% of CSM which is still tightly held?
Kiernan just bought a couple of million more shares at around $2 - too late for me to check for accuracy - he is pretty canny so I might top up this week. A few % more than someone on the inside is never too much.
PMM
portman limited
