Grant..... i think it's clever accumulation.... Tsang cannot...

Grant.....

i think it's clever accumulation....

Tsang cannot purchase any more shares without breaching his 20% threshold & being forced to make a formal takeover statement....

BUT he can aquire options without having to declare anything.....

sure converting the options would significantly push up his average price but it would still be ALOT cheaper than having to make a formal takeover statement creating a frenzy thereby sending the share price UP.....

just on todays option volume if converted it would be around 5% of the company......

i reckon he is trying to build a significant hand accumulating oppies.... it would work out ALOT cheaper for him....

:-)