Most of us wouldve got the letter from Lew about his agenda and asking shareholders to vote for that agenda etc.
He also said at this time not about to do a take over.
My take on it is that Lew will see how many Votes short he is of having majority Votes for his Agenda.
Eg/ Lew has 11% and may sway another 20% of the Votes = 32% of Votes at the AGM .
Lew would want 51% of the VOTES , to be in a position to steer the Votes and directors etc.
Assume 32% of Votes for Lews agenda at the AGM, Id be thnking that Lew would be crunching the numbers on how many more shares does he need to buy, in order to be in a majority Votes position.
All Im thinking is that 40% more bought and he has 51%, But may only need another 20% of the stock to be in a 52% Voting majority and get his directors appointed,
Once he has 52% of the Votes he puts on the captains hat and hires and fires at will.
So all Im saying is that Lew may not need to buy another 40% to have a controlling stake if there is others keen to Vote with Lew.
MYR Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)