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CCX - CITY CHIC COLLECTIVE LIMITED


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Mystery buyer revealed. Investec has purchased 38.75m shares between .88 and 1.10. A big lump was @ 1.10, with Ian Miller being the seller. Investec probably looking to do as Catalyst did with Just Jeans. That one was a full take over, privatisation and relisting (at a big profit). This one might just be to get some Board control, drive change and sell out. But who knows?

 

Highly unlikely to be a long term investor. Either way, it can only be good news for Millers and their shareholders.

 

Holding is now 15.82%. They have a bit of room left before they have to make a full bid, if it is their intention.

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Great support today in down market. 7.6m share traded to a 1.04 high. Closed up 1 at 1.02. These volumes aren't done by small traders. Someone sees a future in this stock! Interesting to see if it continues and whether we get a substantial holder announcement in the next few days.
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In reply to: Jay on Thursday 10/03/05 05:17pm

Thanks Jay. Yes NAB had increased their holding by about 2.6m over the past month or so up to 7 March. Today's trade though was almost 7.6m shares; about 10 times the daily average and the 5th highest daily turnover for about 2 and a half years. That is serious turnover for a stock like this.

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Warehouse group's already making a profit in its Australian operations. On the surface it looks like MRL's going backwards while WHS is blazing ahead. What does this mean for MRL? Any comforting statements from the Intelligent Investor?
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