I dont see anything inconsistent with SB's movements. I personally think he needed a bigger engine room in SEQ and his targets were cleverly played. He got GC on board and that brought him an engine room. Plus GC was instrumental in the Diversa strategy and that worked out well for Diversa shareholders. That however took a listed operation away from GC that I think was only starting to show what he could put together.
So Interprac was absorbed into SEQ but that meant that SEQ could not be bought out without the Interprac shareholders having a say. Very different from what happened at Diversa. The SB sales I believe were as a result of shareholder and Sargon pressure for shares. He then bought up on market to regain some of what he has sold. SB has around 9.9 million shares and a takeover price would probably have to be around 50c to be worthwhile. In addition he has 2 million options that are only in the money @45c.
So I think he is making way for the plan to come together and for him to facilitate the right CEO for an ultimate Sargon takeover. The Business will need GC and I think he has had dealings with Sargon before so if they know each other its logical for there to be a positioning that will serve the greater good.
I see this as all positive at the ,moment.
SEQ Price at posting:
32.0¢ Sentiment: None Disclosure: Held
