LJ is not long term holder. They have an agreement to convert $100k per month. If you look at the most recent 3B and the 'becoming substantial holder' announcement, you will see that they have sold all the shares issued prior to the 7th and are left with only the latest issue.
Soon we will see 'ceasing to be substantial holder' as soon as they sell down from 10% to 5%. In fact we should start seeing 'change in sub' from today onwards as they decrease.
But the point is the company needs the money, but more importantly the sharemarket needs the liquidity. Virtually no shares on issue and some of them are tied up being held by directors. This seriously limits the available shares for the market to buy.
LJ provide the liquidity. Their shares are for sale. Its really been the first opportunity for any outsider to buy any kind of volume. Its great.
Ann: Becoming a substantial holder , page-6
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Last
32.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $588.2M | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 33.5¢ | 32.5¢ | $1.302M | 3.974M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 713153 | 32.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.0¢ | 215665 | 6 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| BOT (ASX) Chart |