i have been looking into this. I dont think Hocking took any shares, just placed them. The shares on issue now do not represent the full 1 for 5 as the Insta offer is complete not the shareholders one. he may yet have to release another update in a few weeks. So hence the numbers are not a 16% dilution., more like 6%.
I guess he has plenty, he probably figures its all going well, given his age I think not adding further is an ok position for him to have taken. He has put a massive amount in over the years and only took some off the table to let Tribe in, which seems to have been an excellent play.
we should see similar notices from Tribe and a couple of others either this week if the insto placement has made enough difference or in a few weeks when all the dust settles.
PYC Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
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