Did you also notice their was no stockbroker or investment bank involved in the private placement.
Cottee just rang his connections and got them all in. So....
no brokers, SPIVS, traders, hedge funds got to those shares (my assumptions) and therefore no commissions paid for the placement which is usually 6%.
Finally if they were all hand picked investors by Cottee they are all in there for the long term and those shares are likely to be headed for the bottom draw rather than the marketplace.
This all my personal opinion but always do your own research and make up your own mind with your money and its your investment decision and no body else.
Seen it all before, page-12
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