Thanks for the link zymwh.
Going to be next Coke story I believe....all holders sit tight and enjoy the ride...
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Thanks for the link zymwh.
Going to be next Coke story I believe....all holders sit tight and enjoy the ride...
Touching 82 cents this morning I like what I see!
Even more interesting would be who is doing the selling. Although trading has been reasonably active since the EIO was rejected, it hasn't really involved any significant chunks of a2MC's total capital. Transactions involving 1m shares here and there don't really amount to much, and could even be cosmetic trades between friendly parties.
To me this suggests (rightly or wrongly) that none of the major stakeholders are selling yet, and FF-Dean are going to have to raise their behind-the-scenes offers.
Yesterday's story in The Australian (post 4365), written by a reporter who has been following this affair very closely and obviously has good contacts with the parties involved, appeared to suggest that FF-Dean were hoping to get takeover traction with offers in the region of 65-70 cents, based on that being a 30% premium over the price a month or so back. That's probably not going to attract many sellers. But it will certainly fuel speculation about who was behind the market manipulation to drive the price down below NZ50c over recent months.
Positive comment from media and market analysts based on a2MC's latest update should help drive the price up, as we've seen this week. At some point - probably when it gets towards NZ90c - we may see some of the big holders starting to sell reasonable chunks as a safeguard against the takeover proposal falling apart and the SP returning again to around the NZ70s-80s. I'm no TA guru but I would suggest it won't fall back much lower than that because there will be ongoing hopes of a new takeover offer and increased interest in the company, based on recent publicity and growing confidence in the company's forward strategy. The Australian is now saying (paywalled) that "analysts have expressed optimism about the US expansion strategy of dairy company a2 Milk and believe it will inevitably be the target of a bidder".
Looks like its one direction at the moment....strong momentum.
Maybe the "golden Cross" has some validity afterall?
Trimmed the position a little bit today , just some extras I picked up low 70's . Will give me the ability to ride the balance comfortably , or if we see a blip back down for whatever reason , the ability to buy more .
I sold a third today;a buyer hiding at 82c took them out instantly.
Macs valuation would look interesting now with great 2016 revenue
Just over 1% of total ATM shares changed hands on the NZX and ASX today.
An updated list of ATM shareholders (dated 17 July, just before the EIO was rejected), shows little selling by the top 20 shareholders and custodial trusts since 3 July.
A quick glance indicates there may have been some change in the status of David Mair’s stake of 5m shares (about 0.8%) but it’s not clear whether they have been sold or perhaps transferred to the ASX register. If he's sold them he would need to file a SSH report pretty soon.
Shares held custodially by NZ Securities Depository Ltd (Reserve Bank) for major clients including Milford, NZ Super and ACC have gone down by 9.7m net (1.5% of ATM’s total capital), hardly a big movement considering the Depository still has 34.9% of ATM in its custody.