It looks like the long drawn out saga re; OPes related shares with ANZ is drawing to a close very soon (by my reckoning only around 3 million shares left to go). My guess is that either the price will rise quite quickly or it may take a long winding road before reaching the previous heights. The two scenarios being:
Rapid Rise in Price :
This is based on the fact that Ray Finklestein will make a judgement soon (think around 19th August) about the date to be used for valuing the shares. The two options are 27th March or 18th Sept. If it turns out the date is 18th Sept and the directors are already satisfied regarding their shareholdings, then they will make every effort to make sure the price is as high as possible and we may see $1.50 or around reached in 6 weeks time.
Gradual Rise in Price:
This is based on the fact that directors are still to manage their shareholdings and the date chosen by judge is 27th March (Shareprice closed at 88c) then there is no incentive to let the shareprice rise so quickly and in this case it will be a slow and steady progress over a number of months.
However, in the long run it will be immaterial which way the events turn out. I am still as positive as last two years and reckon we as shareholders will have the last laugh out of this Opes debacle.
cheerio!!
SLA Price at posting:
0.0¢ Sentiment: Buy 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)