re: friggin hilarious! hhl are substantials again! Poor play. I know the institutions are there to make money for their clients, but i think this is both poor play from PCG and HH - they've done a number on us average pleb shareholders.
In the week leading up to the broker presentation, HH sold about 930,000 shares at an average of about $0.965. Obviously, they were well aware of the slightly negative content of the yet to be released broker presentation on 1/5. My guess is HH knew that it was going to be confirmed that there were some tender delays, 2nd half profit was confirmed as being lower than 1st half and there have been substantial costs incurred in setting up Qatar, Singapore etc. Whilst it was pretty much all immaterial info, HH knew the broker presentation would cause jitters, so they sold heavily a few days in advance.
Once the presentation is released and the SP gets hit, as they knew it would, they buy back 1.1M shares at an average of $0.83 to regain substantial holder status. Effectively HH have saved themselves about $150,000 in the knowledge they're buying a superb long term investment that will continue to deliver.
And, why i'm a little annoyed is because i think it's been done with a little bit of smoke and mirrors stuff.
Oh well, that's just me being cynical anyway. They didn't manage to fool me into selling but they tricked plenty of others. Interesting to see what sort of reaction this gets tomorrow, methinks $.80 isn't going to be seen too much again :).
On the flipside, congratulations to those that managed to top anywhere between high .70's and low 80's. Give yourself a pat on the back, you've probably just made some very easy money.
Cheers to all holders.
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