I sold out of SEG a few months ago so don't follow it daily but I think this pump was to allow some new holders to get out with a decent profit for helping the management with an express 500K CR
On 22nd June, it was announced that :
completed a private placement to Australian institutional and sophisticated investors to raise a total of $500,000 by the issue of166,666667ordinary shares at 0.3¢
wouldn't the private/soph holders be very happy to get out of most of their holding at say an average of 4.5c today? I would be happy too with a 50% profit in a few weeks...
unfortunately, this is how the spec end of the market works...
SEG, page-52
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