Business.com.au article, page-6

I am talking to myself again. Fortunately no hairs on my palms yet so only at Stage 1!

Looking through PLH's FY2018 Q1 report they had a closing cash balance of A$2m. Their cash usage will be about A$1m in FY2018 Q2 so the time is getting close for a CR. Maybe 12/17 or 1/18 and probably for about A$5m. Sometimes the SP is kept under control prior to a CR to keep 30 day VWAP down and then allowed to rise in the later stages to give a healthy margin between VWAP and the SP on the day the CR is announced. Gives an incentive for "sophisticated" investors to part with their cash at VWAP. Possible this is what is happening now and if so I would expect the SP to rise to at least 24cps and with a fair wind maybe 28cps. We shall nevertheless see what the outcome is.