So I got this straight and correctly reading the tea leaves -...

So I got this straight and correctly reading the tea leaves - the CR by SMW will be used to acquire DLS of which they already own 16.7% +/-.

Somewhere along the line SVW acquired 8%, then UBS acquired about 5% and almost immediately disposed of them ?? followed by SVW acquiring a further 8%.

It's not clear from the paper work submitted by UBS what their holdings were prior to and after the acquisitions and how much they disposed of after they ceased to be a substantial holder. Someone suggested that they borrowed the shares, but it is interesting to note that UBS have underwritten SMW latest CR to institutional investors. That was over subscribed by nearly 100%.

Does anyone have any idea who sold shares to SVW as I don't seem to have seen any changes in substantial holding form any other holder.

Please see the attached images - the way this is being recorded doesn't make sense 16% has been acquired surely someone has given up a significant amount...or ...has it all come from retail. Furthermore, Australian Capital Equity PL and SVW can't both be holding 16.7%.

So it looks like June when we will know how successful the retail CR will be.

Throw into the mix RDS T/O of BG and someone chucking in Woodside into the mix, it's setting up for an interesting time for DLS.

However, I have to say that I am underwhelmed but the activity and interest here on HC. Also just wondering if Seven Group should just stick to their knitting or can they handle all the diversification. Many haven't in the past.

Would really like to know everyones thoughts on this.

Cheers
BW


_______________________________
And then is heard no more. It is a tale
Told by an idiot, full of sound and fury
Signifying nothing.