Latest SENS: Peregrine Equities bought approx 7.7%, Peregrine Capital 5.1%, and Steyn Capital 5.4% - that is nearly 20% in new hands
As the company is trading far above NAV - and the face value of the Ords is still less than that of the Prefs - In essence if you own both and can veto resolutions (25% or more Ords) - you could profit from the uplift of the preference shares. There will come a time when the trade might swing - and shareholders could start shorting the Ords - and thus make money the other way too ! as long as they have 25% voting rights to look after their Pref shareholding.
I would make sure you know what you are doing before departing with your cash
Anyone agree - or am I missing the boat !!