I mentioned this scenario back on the 15th November, post 70926087. In the case of PGH off market buyback , the company was independently valued at between 0.83 and 1.24, so Raphael’s offer is 0.84 after initially offering 0.68 and if this major holder gets to 90% ownership then he can acquire the balance at 0.84! So yes this could happen at any time with this majority owned stock, if KS holding’s were to increase from here that would be a red flag in my opinion. But if your theory for a valuation of $1.50 was bourne out from an independent valuation, this might be a great scenario for holders, but KS never pays a premium for anything unlike Raphael Germinder who has been acquiring shares continuously from as high as $3 plus.
SWM Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
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