@Jay-Jay wrote:@shakthi1974 wrote:Jay-Jay, my question is what is the importunacy of the AGM, unless to declare the dividend? and the new party will take quantities available in the market or is it a agreed deal between two parties?
Kindly share more info if available.
Its a agreed deal as per the sources. Second largest share holder is the seller and the Doctor also selling a parcel its unsderstood.
As per the rumours Mr Nimal is collecting from the market and he is holding a big quantity by now. ( Wonder whats his gain in this transaction ? )
Declaration of the dividend withheld as requested by a concerned party till they materialize some concerns.
Some brokers in the belief that the buyer is collecting from the open market some quantity to sell at a higher price to set-off some percentage of their investment. An experienced investor told me that the current price level of the counter is artificially maintained at a low level with some fake selling quantities, as a concerned party wanted to collect a huge quantity from the open market and they will push the share up to Rs 8/= - Rs 10 /= levels and re-sell to cover the whole investment . This was the Dammika Perera strategy a decade ago where he acquired more than 10 companies without spending any cent from the his own pocket.
Can assume this is the reason for the withholding of Dividend declaration as the large buyer don't want any upward price movement till he collects the quantity. But at the AGM investors will question about the Dividend announcement ..!
What happened to this?