Makes me wonder though about the ability to arbitrage or even manipulate. This company's shares have been prone to that. For example, despite some doubts imo I think that selling close to the same amount of shortfall shares immediately on the announcement of the approval of the SPP tells me that there are players around.
The ability to cap the share price by sitting a sell order of around 47 million at 0.8 cents means that for 376k someone can control the destiny of the company, because without the conversion of those options the company could be in difficulty. Though I suspect that even only a 50% uptake would be enough to allow cover for the time required for GBA trial to start generating cashflow. For my part, I intend to take up all my entitlement which is a reasonable number, and I suspect the big shareholders will do the same.
The problem is that because of my entitlements I am not really likely to buy on market. I'm not sure which bit of news will make other investors come to buy, or Pengana needs to step up, but that seller needs to be taken out. Imo.
OSL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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