Wonder if this triggers any SSH notice. Will be interesting to see..
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The seller was REL on the unlisted market, selling a bunch of the shares they picked up last year for a tidy profit + dividend. Maybe they think there'll be some cheap farms going soon or maybe they just had an offer they couldn't refuse. Wonder who the buyer is...
Just had a look through some of the REL announcements.
15-08-2019 Through on-market trades, REL acquired 72,238 PGW shares.
16-08-2019 Through on-market trades, REL acquired 27,035 PGW shares
29-08-2019. REL has this week acquired 2,842,736 shares in listed rural services company PGG Wrightson Limited (PGW). The shares that represent 3.766% of PGW’s shares on issue,
17-04-2020. Rural Equities Limited has this morning sold its parcel of 3,158,313 PGG Wrightson Limited shares.
However, the single sale through the market was reported as being for 5,628,450 shares. (from Stocknessmonster)
In AR2019 for PGW, H&G Limited (the Cushing family investment vehicle) was reported as holding 2,006,732 shares. Add that figure to the shares that Rural Equities sold and you still don't get 5,628,450. (that means that H&G had been increasing their holding since the PGW balance date too?).
But it does look like both H&G and Rural Equities have both now sold out of PGW. That is the only way I can make sense of the figures. Will David Cushing stay on the PGW board I wonder?
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