JapesYou would think the larger players looking for the 7%...

Japes

You would think the larger players looking for the 7% dividend would be buying right now, BUT maybe they are by doing a lot of shaking because it's usually not a highly liquid stock and maybe there is a plan to hit the stops many holders have set and they are in fact cleaning up right now , who knows on this point as it can be very hard to tell with so many small BOTS going through

What I'm speculating on is rather than a possibility of CGF divesting themselves of CIF so they can have a cash injection as has been posted on here in the past, maybe someone such as CGF or ? may want to buy out remaining sharholders on the cheap, hence the BOTS and I have also noted the transferring of large blocks quite often on market in the past month or so without sometimes ever seeing these quantities either sitting in the sell or buy queues all maybe with the aim as I stated previously to drive the VWAP down before announcing. Lose a bit by letting stock go at a low price, you know the saying lose the battle but win the war

So IF this is on the cards then, the longer term holders such as yourself who bought CIF for the yield with a long term investment in mind will get robbed if someone takes this over at less than the price these investors paid without any chance of these people getting their funds back

The upside is you will get more than the current SP if or when any announcement takes place to this effect, but maybe not high enought to realise all your money back depending on original price paid

As mentioned this is happening ATM with CWT, all I am trying to do is warn people that this is a possibility here, especially as there is a common link to CGF

I was one of the lucky ones with CWT as I bought not long before the announcement of a buy out, so my gain was close to 50% as I've already sold at 0.23, but there will be a lot of investors who will lose out if the deal does go through at 0.24

Remember from their announcement - "offer price of 0.24 represents a premium of 26.3% over CWT's closing price of 0.19 on 1st Nov, 2010 being the last trading day prior to this announcement, and 53.9% based on the one month VWAP to 1st Nov 2010 of 0.156"

Didn't give any joy whatsoever to those that did pay more than the 0.24 and that would be quite a lot, but this has to get past the vote yet also

Note that Challenger Life Company (CLC) holds 27.7% of CWT's total units and they are retaining that holding if the CWT sale is approved by SH's and co-owning CWT with the proposed buyer of the remainder of the units

Now for the best part, Challenger Management Services Limited (CMSL) have agreed as a part of the terms of the takeover of all units other than CLC's 27.7% that CMSL do retain the management services of CWT

Yahoo!

So one can only speculate what could be going on with CIF

Be interested to hear what others think