Regarding the substantial shareholding notice, under the Corporations Act a company who makes a takeover bid for another company *must* serve a substantial shareholding notice on the takeover target, even if the bidding company holds 0% of the shares. If you're interested, this provision is contained in Section 671B(1)(c) of the Act. So that's why Cape have served the notice even though they don't hold a single PCG share - because they're mandated to do so.
I guess we'll all just have to be patient with this one. I get the feeling PCG are probably poking around for other bidders as we speak, but it might be quite some time before a formal offer (if any) is tabled. I'd say we're in for quite a protracted process.
Cheers.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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