The Share Wealth Systems ASX Public Portfolio is holding an open position in CSR which is currently under a takeover.
The announcement was made after the market close on February 25th 2024. CSR was in a trading halt on that day and this can be seen on the chart below.
In accordance with the ASX Public Portfolio Investment Plan, the position will be closed 20 market days after the takeover announcement on March 25th.
This avoids capital being exposed for potential lengthy delays or trading halts that might occur as a result of the takeover process. Members that don’t have a “takeover” action as part of their Investment Plan need to think about how these situations will be handled, so as not to be caught off guard.
Prior to the announcement there was speculation that an offer was in the pipeline and this case be seen in the large bar 4 days prior to the official announcement.
After the official announcement was released the price of CSR rose again, but has now drifted sideways. This is quite common for stocks in this scenario.