Ann: Becoming a substantial holder from MS, page-3

MS started buying AWE on 30/10/17; before any TO bid. No sells (unless part of borrow/lend).

Even though MS kept buying > 95c, without doing the math, its average buy price is likely < 95c. 85% of MS' AWE holding is in an offshore entity.

After glancing MS website, in the event MS mounts a TO bid itself, it's possible that AWE could sit under MS Private Equity or MS Energy Partners.

Spotted a trade at $1.00 on 29/1/18. Therefore any TO bid by MS must be at a minimum $1.00ps.

The plot thickens!

DYOR