They are simply hedging and most likely buying for a short term trade and possibly prepared to risk a short term development program (12-18mths maximum). They will have no interest in control and a mere 10% blocking stake is deadly useless when The Chinese have flagged a complete company overhaul when they reach over 50%.. In any case these guys are only around the 5% mark.
We were hoping these guys were buying the 30 million parcel off NHC but alas that was Serigan coming late to the party, not realising they were buying off NHC, the biggest shareholder.... and before the board changed its recommendation.. ha!
It is expected both of these guys will simply follow the board's recommendation.
WCL Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held