re: the issue(king penguin) A licence to print money. Here's how it works.
A large shareholder owns 13 696 531 shares on the record date. Shares move well above 20 cents as a placement @ 10.5 cents is announced (unbelieveable really). To date the large share holder sells their holding down to 9 208 531. 4 488 000 sold so far. Probably looking to unload 5 000 000.
Let's say 5,000,000 @ av.21 cents. Then with shareholder approval they buy them back in the placement @ 10.5 cents. Profit $500 000. Nice work really.
the issue, page-5
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