Shell now has about 14.88% of PES and Arrow about 15.4%. Arrow was the buyer of the 4 plus million shares. AOE and Shell between them now have 30+% of the company. My pick is that both Shell and AOE will increase their holdings to just under 20% over the next short while - through another off market transaction if possible. They will then have about 40% of the company between them and have only 60% to pick up.
They will then wait to see where the market bottoms (next few days/weeks??) and then bingo - a takeover offer for the share price on the day plus about 30%. They won't wait until reserves are certified because it will cost them a lot more - like we saw with Roma and QGC. Views anyone?
T
My views only DYOR
PES
pepper residential securities trust no. 21
Shell now has about 14.88% of PES and Arrow about 15.4%. Arrow...
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