You might expect Allan Gray to stop buying somewhere between now and 20% ownership. As I understand it, that gives them a blocking stake in the event of a take-over, they can call an extraordinary general meeting if they want, and they have a basis to push for board representation.
Based on AG's past behavior, I would regard their presence as more likely to be constructive rather than destructive... almost certainly better than the current board.
The current board has left me feeling like the tadpole that didn't swim to the bottom of the trough when the cows arrived...
...DRUNK! Well and truly DRUNK!!
ARI Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
