It is quite possible the chairman - who is a Sydney Lawyer - is a personal friend of the legal firms owners. The $400K for options is peanuts for AH and this may be a "favour" to a mate to give the appearance of strength in the case. The $400K may not even be coughed up by AH - it maybe be an exchange for $400K of legal services.
AH will want to drag this out with the hope of keeping the SP up long enough to be able to sell their options at a profit. One would expect with a heads price of about 9-10c that 15c options would be worth about 1.5-3c depending on sentiment - so I would think they will be offloading these as soon as received for a small profit - I wouldn't think they intend to hold onto them hoping for a SP over 17c (equivalent to a fully diluted MC of about $275 million) as it is unlikely to happen no matter how much they get in court.
CHM have DODGY written all over them in letters 10M high so don't think all is as it seems.
lawyers buy options, page-2
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Last
1.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.40M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.6¢ | 1.5¢ | $22.18K | 1.435M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 2023849 | 1.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 872843 | 3 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| CHM (ASX) Chart |