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My guess!
The Group will fund the acquisition of the shares in AAIC through issuing 4,180,777 new
Thungela ordinary no par value shares.
subject to an orderly markets
disposal provision, which includes an initial 30-day period during which no more than
20% of the newly allotted shares may be sold.
While we are all speculating, one thing is for sure, something is happening! I am pretty sure ACAM is selling. The question is who is buying. Most of the large trades began after the new chairman was announced. This leads me to the conclusion that he has applied influence. One option is that he has influence over a broker managing a large portfolio, but far more likely is that he moves in the circles of the bigger mining houses, which opens the possibility that a mining giant is slowly buying us out. Either way, it all bodes well for the SP and I believe the share will rocket in the very near future as all is revealed.
There is the outside chance that someone is selling to himself, trying to create some hype around the share, but this is highly unlikely.
About 2 months worth of trading on the JSE. So, while it is not too serious, I am sure it will impact the sp negatively in the short term. Hope that the buyers have been waiting and we see some decent volumes on Monday.
Agreed. We all want the directors to have skin in the game. If the sp hits 30p like some have suggested, Ollie stands to make a couple of million, which is a strong incentive. We will all benefit from these options.
My reading of the RNS is that it is a standard clause which gives the board flexibility to act as and when opportunities arise and that there is no specific plan at this time. So anybody hoping that a plan will be revealed before the vote is expecting them to reveal that they lied in the RNS.
As I have faith that any deal requiring further dilution will have appropriate payback, especially after the last 209mil dilution, my vote would be yes.
If you don't have faith in the board, then you are invested in the wrong share.
Billy,
Thanks for the clarification. With money flowing freely during covid at historical low interest rates, one would have thought the company would have had the insight to realise the sp would rocket on news of the Zambian deal, but you are right in that I didn't pay enough attention to the original rns.
Let us hope that further expansion programs have better foresight. This is a great company with immense prospects if funded by the company and not the shareholders.