interesting. Any Tullow holding will make it harder to get their vote up. The fact that they have started buying suggests that they are beginning to doubt the success of their bid at $2.02 - and are
1. Looking to accumulate a blocking stake of 10.1% at $2.02 - probably impossible at present.
2. Likely to increase their bid and move to get a blocking stake at that level. To that end, I wonder if their owning call options with a strike price at higher than $2.02 is an option available to them.
Eitehr way, Tullow buying is a positive as it shows another bid is more probable.
HDR
hardman resources limited
