Research is important. The spp was not news today!!!! It was on page 4 the Chairman's report in the Preliminary Annual Report released to the ASX 26 August 2005.
"Cash reserves grew to $24.8m following a strongly supported Share Purchase Plan in October 2004. In response to the strong endorsement by Shareholders for this form of funding, the Board recently announced another Share Purchase Plan offering which is due to close October 26."
Somebody wanted some shares on the cheap. Did you sell them yours because I did not.
BTA shares were around 0.80 when the Prelimary Annual Report announcement came out they then dipped to a low of 0.72 before rallying to a high today of 1.11 because of the Bird Flu pandemnic.
Share Purchase Plans follow a placement to Institutions and never precede one. Hence we can conclude there will not be a large placement to Instos.
Would you prefer a placement at 0.76 to Institutions or for the Shareholders to get the benefit? I know what I prefer.
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
