Letter dated Nov 16th, 2021. Well they announced RS cancellation sometime late Dec/early Jan and did seemingly pump.
Perhaps they knew then they weren’t going to pay taxes and intended to drop merger (didn’t pay TA dues for Jan/Feb either) but dragged it out in hopes of higher share price before terminating merger.
It’s very plausible. CLHI was 7/8 cents in Dec, if TDS wanted higher share price before insiders sold that was certainly the way to do it.
Promote cancellation of R/S on Twitter (but no official PR!) and sell off when think price is as high as they think it will move before dropping merger.
It’s the most discreet looking to authorities without raising too many red flags with official PRs. Seems like a great game plan to me.
Not saying it’s true or not, but it definitely seems a likely scenario where they might avoid loopholes and legal obligations being from UK.
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