Hi Hoof , any idea what ACUITY CAPITAL INVESTMENT MANAGEMENT PTY LTD and RHT are up to? they were handed 20 million shares at the discretion of RHT to place at the market as RHT's direction , the purpose of ATMs is to manage the balance sheet, keep debt at comfortable levels and raise equity capital opportunistically, it was put in place by RHT for a possible acquisition of up to $5 million, unfortunately for investors it allows Acuity to fool around with the share price by buying and selling opportunistically for them selves while they wait ? the share price activity provides opportunity for all but with 20 million shares they can seriously effect the share price if they want ?
I know this as fact from another company that offered to borrow my shares to for 3 years and pay me interest until they returned them, i did not like that idea and did not go ahead but it is well known.
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