Let’s say I own 19.9% of a company and am weary of making a move on obtaining some more shares as I need to make a TO;
OR
I have made an offer for a company but the majority of current holders don’t accept it and the share price trades pre-dominantly above my offer price.
May I, without getting into any trouble with ASIC or ASX do the following:
Speak to my friends and tell them to buy shares in this company (at the higher price) which I will buy from you either at break even or a small profit? Think if my friends buy at 4.3c and I eventually raise my offer to say 4.5c- I would have automatically gained some momentum towards increasing my shareholding and my friends would make a nice profit- For every friend that buys 100 000 000 AGO shares they will make .2c per share that’s $200 000 in a month (or 4%, compounded a silly number) for them, but I get more than 1% of the company ?
AGO Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held