Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James , Thanks for your daily informative commentary. I have a question on your note dated 31/8/23 on the RPL/Chris Mackay reported deal. If I do the maths on $112 million divide by $9.40 = 11.9mil shares On my charting software I see no spike to that extent nor have I seen a substantial holder notice being issued by the purchaser(6.5% shareholding) Could you please clarify. Keep up the good work Cheers Christof
Hi Christof,
You’re close, Chris Mackay sold 12m shares in MFG and lodged a notice as required, with Regal Funds Management the buyer, however, as no substantial shareholder notice was put out by Regal, safe to say they were covering a short position, as was ru8moured in the following days. My bet is they went from net short, to net long, but their long position remains under the 5% threshold, hence no declaration.
The volume should come up on your charting software even though it was a special crossing, maybe a setting needs changing.
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