Dr Giles has not lodged a revised Appendix 3Y which indicates he has not taken up any of his rights.
That is zero, zilch, none!!!!!
Only a few weeks ago, he stated at the EGM that the GFG transaction undervalued Havilah and used his substantial shareholding to vote the deal down and encourage many other loyal shareholders to vote against the deal. He asked the shareholders to back him! However, it seems that he has not taken up not even one share at a price that is approximately a 60% discount to the lowest GFG subscription price.
Whilst it is understandable that it would be difficult to take up all his entitlement, it would not be unreasonable to take a a modest portion of his entitlement. He is clearly out of touch.
It explains why the Havilah directors were strangely silent about their intentions. But well done to Mr Previn for investing $150,000 but am I reasonable to be concerned about Dr Giles financial situation!
Well Havilah lovers. Put some positive spin on this one.
TOD
HAV Price at posting:
9.5¢ Sentiment: Sell Disclosure: Held
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