Hi guys - I hold a parcel of BMN and think they will do well, but this announcement is just BRILLIANT!!!
Cleverest thing I have seen done yet by a board of directors:
Sell 3 million of their own shares and brand it as:
• Block of three million Bannerman shares purchased by Tier One European and Scandinavian investment funds.
• Key investors join share register to partner company as it develops its Namibian uranium projects towards production.
• Directors convert options in company and increase shareholding.
• No dilution of Bannerman share capital.
So rather than a negative announcement: 'Directors sell shares & convert options' they gave us the above. Of course it is bullish that they were sold to Instos & not on-market. And there are a few nice tidbits in the announcement too.
Nevertheless .... Brilliant!!!
cheers
up up and away.... a beautiful announcement, page-12
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