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Regarding why Ashley didn't invest in the Open Offer, it's possible that he was in discussions with HH about buying them out and if he had taken up his entitlement in the Open Offer to maintain his percentage shareholding at that point, then buying the Hargreave shares afterwards would have then taken him just over 10% shareholding.

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Regarding why Ashley didn't invest in the Open Offer, it's possible that he was in discussions with HH about buying them out and if he had taken up his entitlement in the Open Offer to maintain his percentage shareholding at that point, then buying the Hargreave shares afterwards would have then taken him just over 10% shareholding.

 

Not taking shares via the Open Offer but instead taking from Hargreave Hale was by far the smarter option, Kingoco simply outmaneuvered.

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Not taking shares via the Open Offer but instead taking from Hargreave Hale was by far the smarter option, Kingoco simply outmaneuvered.

 

Agreed, but like I say, if he'd taken up his basic entitlement in the Open Offer, then this tranche of shares from Hargreave would have taken him over 10%, so that might explain why he didn't participate in the Open Offer at all, even just to maintain his percentage.

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I thought the HH share sale was in excess of 4M shares, but Ashley has bought exactly 3M shares to take his total shareholding up to 9%, So who bought the other 1m+ shares?

 

He already had exactly 3m shares and following the purchase of 4,265,000 shares from HH he's now moved his original 3m over into the same block as the 4.265m bought from HH, so holds 7.265m = 8.92%.

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