The failed take-over is an absolute disaster for TTY. There is...

The failed take-over is an absolute disaster for TTY. There is no way it can sell off its 65% without making an enormous loss. The quantity is far too large for an on-market sale and as Kiernan has failed, no white knight would pay anything like the 10 cents.He is stuck with it. For him to say he will stand back to see what OLY does is absolute bull$***t. As the major shareholder, he (or more precisely TTY shareholders) will have to prop up OLY or watch their 65% go down the gurgler.

He could increase his holding using "creep" provisions allowing TTY to pick up an extra 3% every 6 months but that would take a very long time. It would also serve to put upward pressure on the share price, especially once TTY's intentions became evident.

Towards the end of the offer period, I sold off my sizeable OLY holding at a 67% profit. Thank you TTY shareholders, your money is now sitting comfortably in my trading account.My new wealth-creating challenge is to decide when and at what price, to buy back in. :)