Message from main investor11 Jul 2018 15:35
Copied from another bb:
FROM THE HORSE'S MOUTH
(Just finished a call with the investor, and he has permitted me to share the following)
You crossed 15% this morning, is that it?
I have been saying that's it since about 5% but the failure to get out any hard news is, in my view, creating ongoing weakness and presenting an irresistable opportunity to buy. I am now investigating the feasibility of taking my holding to 100 million which is I think as high as I can go without having to make a bid for the whole business. I am not certain this will happen as I will have to restructure my portfolio substantially and I don't think these prices will be in the market too much longer.
Why are you so confident despite the absence of newsflow?
I genuinely think we are on the cusp - the board have been too busy for too long..I am expecting news everyday at 7am (that seems to be their favoured time to release when it's not a holdings RNS) - when that moment comes and there is no news - i see it as a new day of buy opportunity.
What about the risk?
Funny, that's my prevailing thought at 4.30pm every night!
Are you looking for a seat on the board?
Maybe in the future. Right now I like the fact that being an outsider allows me to trade. I'd love to know exactly what is going on in the boardroom, but the trade-off is too restricting right now.