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It was also interesting to note G8 placed $S155 million of fixed rate notes to fund potential acquisitions through DBS Bank on Friday as well as $50 million loan from the Bank of Western Australia after raising $100 million of fresh capital in October.
The other talking point on Monday was Canaccord Genuity's involvement. It turns out that Canaccord, who is managing G8's on-market all cash offer, were advisers to Affinity on its poorly-explained market update in early July. That was the update which sent Affinity's share price crashing and created the opportunity for G8 to snap up its 19.8 per cent blocking stake.
The broker has now switched camps to advise Jenny Huston and Chris Scott at G8. Intriguing move.'
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