Ralom
The announcement from STO on 3rd April said that Harbour had signed a Confidentiality Agreement (CA) and was planning access to data for Due Diligence (DD).
In most cases, the CA would contain a non-purchase clause which would restrict them from buying any further shares.
Secondly, once they have accessed the DD materials, it could be argued that they have material information which would see them as insiders in regards to the Insider Trading Regulations.
Lastly, it appears that Harbour wishes to undertake this deal as a friendly transaction. If they bought shares now, they would hardly be seen as friendly, which would negate some advantage in this deal.
So, in summary, it is very unlikely that they would be currently buying shares in STO.
Hope that helps.
AL
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