"Under Australian rules, Kalahari can purchase up to 3% of Extract Resources every six months. Last March, it snapped up 3% to take its stake to 39%. It seems very plausible that it is planning to acquire shares again, pushing its stake to 42%"
So they took their 3% in March last year, it's now 12 months since that date, so technically they could have purchased another 6% of the company taking their holdings to 45%
Could be why there is current upwards pressure on the share price.
"Under Australian rules, Kalahari can purchase up to 3% of...
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Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $17.69M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $70.11K | 5.794M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 999999 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 8522683 | 4 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| EXT (ASX) Chart |