becoming a substantial holder from cgf, page-6

"The recovery will be quick and steep tomorrow. I think any sell-off from us retail investors/traders will be soaked up by the instos. They paid 15-16c the other day."

Yes they did pay 15 cents the other day but at that price they got the offer of 1 for 4 a 10c so in reality they paid 14c a share.

Expect some selling by those that decide to profit by selling above 10c and buying back at 10c. That will possibly reduce the SP. Remember it is better to sell as low as 11c to fund buying entitlements than not to take up an entitlement.

I get annoyed in a case like this where the instos get to double dip. They will take up any entitlement and still get a placement of shares without entitlement. VPG could have obtained the extra by simply allowing existing shareholders a bigger share.