I looked up the announcement re the issue which took place 11th August 2020 - see below. A post earlier this week blames the share price dive on the selling of these shares which qualify for the CGT discount after being held for 12 months.
37m shares in total were issued. Around 10.5m shares in total have been traded since the selling began on Friday 13th. I've seen this too many times - large numbers of shares issued to good old mates who in turn make a short term (12 months) killing!
Let's hope it settles down soon!
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Placement of Shares - Cleansing Notice
ASX Release 11 August 2020
Greenvale Mining Limited, formerly known as Greenvale Energy Limited (GRV or the Company),
advises that it has today issued a total of 37,152,599 fully paid ordinary shares (Shares) comprising of
the following fully paid ordinary shares:
1. 34,784,178 - issued pursuant to Listing Rule 7.1 at an issue price of $0.019 per Share; and
2. 2,368,421 - approved by shareholders on the 11th August 2020 . The shares were issued for
the purpose of GRV’s acquisition of the remaining 20% of the shares in Knox Resources Limited
pursuant to a Call Option Deed
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