post spp churn, page-5

Nah, those shares being sold are from the 'sofisticayed', 'professional', and 'institutional' bunch that already have their cheap 13.5 cent shares from the first part of the cap raising.

They get theirs first so they can profit first, then the ordinary shareholders get theirs about a month later.

They get a quick 10% or so profit at no risk and they are taking it.

I like the company and own a total of one share to get in on the SPP which will be hugely scaled back if the share price stays up, but dislike companies that pull off these kinds of cap raisings.

IMO another example of the ordinary shareholder being done over in favour of the 'sofisticayed', 'professional', and 'institutional' bunch.