SAY 0.00% 0.4¢ south american iron & steel corporation limited

13c finish, page-25

  1. 629 Posts.
    Good news or not?

    Well good news that someone has bought 1million shares at a discount I may add.

    I suspect, and this is me just thinking outloud, that whoever put up the barrier at 13c was the person who was converting the note. The reason maybe to do with the T&C of the note. It may have been that to convert at 8.2c the SP may have had to be within x% of the 8.2c at the time of conversion and hence the barrier at 13c so the SP didnt go over that. Or, it may well even have been one of the directors (seeing as they hold the most) was keeping the price below 13c so that the note could be converted and they could get their working capital.

    Whoever it was and whatever their intentions were, it worked, now all we need is an update on what is going on even its just to say we will have news by the end of April.

 
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