API is also a business. If you get a chance to have a look at their substantial holding register (14/12/2018 announcement), they did purchase a lot of shares above the $0.60 mark. API also has shareholders, I do not think it would in the best interest of their shareholders that they dump at $0.40 and call it a day. I would have thought, they would drip feed if they wanted to or find another potential substantial holder like Allan Gray/instos and the like at a discount. If you are a retail investor, you would not have access to the parcel I would have thought. Just food for thought.
Ann: API: Market update on API-Sigma merger proposal, page-9
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