RE: RE: auspicious trading pattern Cant figure out who is selling below 56 cents with an offer in place at that level.
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Don't see anything in the Offer language that indicates that Luxor is prohibited from selling any of the shares it holds. Is it possible that Luxor or associates have a block of shares set aside to sit on the Ask? Would this make any sense for Luxor to do?
Only thing that seems to come close in the language of the offer....section 12, Market Purchases, second paragraph....
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Although the Offeror has no present intention to sell Common Shares taken up and paid for under the Offer, the Offeror and its affiliates reserve the right to make or enter into an arrangement, commitment or understanding prior to the Expiry Time to sell after the Expiry Time any Common Shares taken up and paid for under the Offer.