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14/10/19
17:14
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Originally posted by Hiddenvalue:
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Problem is current holders don't know how to price this announcement. This should have provided at least a 20-30% minimum move today and some continued buying over the next couple of days. Instead we have $550k traded and no real up leg. Could be holders selling out for 10%-15% profit expecting to get some shares at 1.0 cent with the SPP PLACMENT OF $3MIL. This is a dangerous strategy as holders who are trading shares may not get their parcel to the extent they apply for. I will be keen to see what happens with trading over the next couple of days and possibly look at purchasing a little on Friday with the SPP if price holds up. I'm expecting to get whatever I apply for up to the $30k limit as I have been on the register for a long time and have not been trading this stock. It sounds like loyal SH will get their allocations first in the event that it's oversubscribed.
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The BOD must have know what the quarterly result was likely to be before the CR was announced. Why do it? Do we mug punters ever find out who the $4 million went to at what was sure to be a bargain price?