I do not see the connection between the VEM Bank´s mandate to trade ORC at the German XETRA and their intention to buy 24 mio shares explained in this announcement.
If you add mid Dec an Jan volumes to that 24 mio they might gain around 20% (35 mio of 175 mio). I don't have the numbers but 24 mio on its own are 14% and I can't believe they need that much for the XETRA system. As far I have learned a stock exchange is only the market maker between buyer and seller. If there is no sufficient volume on either side its not the problem for the stock exchange.
Has VEM Bank dicovered the true value of ORC while doing their XETRA job and now want their share either for themselves or their clients.
And what does ORC want to say by ". . . The company has recently become aware . . ." Accidentally or casually or ...?
So many questions ...
In Germany ORC is traded in: Frankfurt München Berlin-Bremen Stuttgart Düsseldorf and XETRA (http://isht.comdirect.de/html/detail/main.html?sTerm=ORCHID&ad=&koop=&sSym=AJ4.FSE&sIsin=AU000000ORC4)
ORC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
