RE: My Thesis on today.27 Jan 2021 23:41
Credit to Benjammith posted at 20:47pm
My Thesis on today.Today 20:47
Hello folks. Been a long time since I posted anything of meaning on here.
Here's my take on what happened today.
So Alexei C has sold 27.4m shares over what I would guess is a period of 3 weeks based on the SP holding the 29p range.
He hasn't sold all his shares, which is important. It should also be noted that to sell such a large holding a plan was obviously put in place a while ago to sell these over a set period, with a target date coinciding with other loose ends for the sale being tied up.
The 27.4m shares he has sold were held in his company VGH, which also held a 7% interest in ZAO, the company that holds the rights to WK.
The reason for selling is that any entity within the FSP is unable to buy EUA shares. So for them to buy WK they need to buy all stakes of ZAO including that held within VGH. In order to transfer those rights in the most efficient way, Alexei C would sell the company holding the rights - VGH. However before he can do that, the EUA shares must be sold to avoid insider trading by the buying entity.
So at some point in the past a non-binding offer was accepted and in order to push ahead a number of things, including this was needed to be carried out.
Therefor I see today as a MASSIVE positive indicating the sale is close and being wrapped up as we speak. Because Alexei C wouldn't be selling part of his share holding in EUA to sell VGH unless the sale was nailed on.
This along with the DFS were just loose ends to tie up and I expect the offer RNS very soon now.
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