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Huge Group will not go into a bidding war for Adapt IT, says CEO
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Huge Group will not go into a bidding war for Adapt IT, says CEO
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Dublin-based hedge fund builds stake in Adapt IT
Adapt IT’s head office in Midrand, Johannesburg
Who is buying JSE-listed Adapt IT shares at or above the R6.50/share offer price tabled earlier this month by Canada’s Volaris Group? A disclosure by Adapt IT to investors on Friday may have shed some light on this question.
Blacksheep Master Fund, controlled by Dublin, Ireland-based hedge fund manager Blacksheep Fund Management, has in recent weeks acquired almost 10 million Adapt IT shares, or 7.2% of the number of securities in issue, excluding shares held in the company’s treasury (6.28% including the treasury shares).
The facts versus persuasive arguments: Should Adapt-IT
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That will ‘cover disclosures and transactions in Huge Group securities during January 2021’, it said on Thursday. 14:29
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The Financial Services Conduct Authority (FSCA) has begun an insider trading investigation that will âcover disclosures and transactions in Huge Group securities during January 2021â, it said on Thursday.
TechCentral understands that this investigation may be related to transactions in the JSE-listed telecommunications groupâs shares by third parties who may have had prior knowledge of its planned bid to buy software services group Adapt IT, which it announced to the market on 27 January.
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