Regarding 20th Update, page-4

Your analysis is pitch perfect SEMS.
SOLG is being controlled by traders as most listed companies are in the short term. Traders are inherently nervous. They buy then take a margin. They wait for it to drop then trade again. If it doesn't drop but great news is released they buy often above their last sell price and sell again for a gain . Many traders have stop losses which are a mechanism for disaster.
Few major shareholders and long term holders have stop losses. LTHs trade add to or reduce their holdings infrequently.
SOLG has corporate chess written all over it. In the next year a deal or multiple deals will be struck.
DGR has no wind in its sails. All potential buyers are waiting nervously for the SOLG ann even though they know it will be positive. They will look back after the DGR rerate and say damnation.
DGR is NMs super fund. He controls it along with co directors, staff shareholders and long term loyalists like Tenstar . He cant control SOLG in the long run. It is a behemoth. But he can generate a massive cash inflow into DGR from SOLG. I believe he would like capital distributions and a dividend flow from DGR like many of us.