What does UBS to gain by borrowing 21m share of Drillsearch and a seat on the table? Are they trying to be a kingmaker without any clear financial benefit? UBS moves in and out to make money. If UBS thinks that there will a corporate action, the logical move for UBS is to buy Drillsearh shares to participate in the upside. My view is borrowing DLS stock to get a seat on the table is far fetch. Unless UBS wants to protect the lucrative fees it can earn for future capital raising or advisory role.
Also, no meeting or voting is scheduled in Drillsearch for awhile.
DLS Price at posting:
$1.09 Sentiment: Buy Disclosure: Held