A day late and a Rand short

Sometimes a badly executed plan can look like there is no planning at all.

My Square Mile chap just got back to me.

He made some calls and rummaged around in the hedge funds for me.

Subsequently, he is now clearer about the state of play at Sevco apropos all this share dealing stuff.

It would appear that the Three Bears and Mr King were indeed acting in concert; well that is certainly his take on it.

He told me that chaps selling the shares, Artemis, Laxey and Milton, registered theses sales simultaneously.

This would suggest that the people buying the shares had bought them at exactly the same time.

However the purchase by the Dave King family trust in South Africa came through a day later than his furry friends  in the UK and this 24 hour delay cost the South African entrepreneur dear.

Essentially if he had made the purchase on the same day  as them then he would have got more RIFC shares for his Rands.

I then asked my Square Mile guy what he would do now if he was David Somers and he didn’t hesitate with his answer:

“I would contact the Take-over Panel first thing on Monday morning.”

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