hi Kent: - "By my calculations they are well over the 10%...

hi Kent: - "By my calculations they are well over the 10% revised stake in CRE"


what about if you assume FML convertibles are fully drawn then converted / options exercised?

by my count (which could be wrong), based on Stone's most recently disclosed interest, full conversions would cause Stone to fall below 10% of CRE and they would not be able to block compulsory acquisition.

if as you say Stone has been doing the buying, and counting all the asx traded CRE since the last disclosure, then by my count they would have only reached the magic adjusted 10% level at 1003am today.

hence no need to buy anymore to block compulsory acquisition in the converted scenario. the weak bid depth above 5c at the moment would seem to support this view, and in turn you would expect CRE to fall back from now on...

but, if as you say it's been Stone (or an associate) buying, wouldn't they have been required to announce it by now? perhaps someone can help me with the rules here, but i guess it could be a similarly minded party non-associated with Stone??

either way, would suggest lack of faith in the panel finding in Stone's favour on the vote count dispute...


[do your own research, merely hypothesizing here]