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quote:Originally posted by Bling_Bling
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Bridgecorp sells stake
Email this storyPrint this story 5:30AM Tuesday April 24, 2007
Finance company Bridgecorp confirmed yesterday it has sold its 18 per cent stake in rival finance group Dorchester.
A statement said the stake was sold in an off-market transaction to parties including Hugh Green Investments and St Laurence Mortgage Holdings.
If this is true then both HG and SL shareholding will breah 20% and should trigger a T/O offer for the rest of DPC shares. Where is the SSH notice??? Come on we are waiting! :)
DPC issued new shares to St Lawrence Mortgage Holdings, meaning existing shareholdings were watered down by the 13% share issue. This allows existing shareholders who were previously at the limit to buy more shares without triggering the limit threshold. St Lawrence Mortgage itself could buy an extra 7% or so without triggering a general offer.