Actually Basil, the scenario you describe is more like a short sell trap than a takeover. Some of your ideas are certainly plausible if it were not for the fact that no holder will sell until they see progress reports on April 11.
Short-selling volume has also dropped from 0.25% of shares outstanding to 0.06% yesterday and volume overall has also dropped considerably.
Simply put ....a lot of smaller holders are losing their resolve and being replaced by holders with faith. Not one major shareholder has sold nor has one taken up significant stock.
This statement is not true...
"substantial holding notices can take quite a while to be released"
Under 3.19A.2 - Directors must inform the ASX no more than 5 business days after the change occurs.
Under 697.b Companies that have a substantial holding of 5% or more must inform the ASX of changes to 1% or more of their holdings and within 2 business days.
KZL Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
