RE:32 MILLION??I did NOT see that coming. I don't think any of us did. It seems absolutely no-one wants to own these shares! One would imagine that the SP will be going seriously south tomorrow - but it will be volatile. It will wipe out the paper profit I was sitting on, but bigger arber traders will be hurting far, far more. I can only imagine their strategy would be to average down using the proceeds from the 37.5% of the shares that were successfully tendered.
It's interesting that the SIB offer was described as "successful" in the Press Release. That begs the question, then, as to what the next move will be by management. Clearly, there are many more shares on the table to be bought back in SIB round 2, if that can be brought about.
The other question is what Dream are going to do with their $100 million or so.