Robin Hood stole from rich and gave to the poor. Mr Fogarty reversed this status, he stole from the poor ERG convertible noteholders, and pocketed the profits. I refer you to ASX report dated 7 November 2002, where Sir Peter acquired 4763 convertible notes at a price of $4.53 each, and within 30 days the announcement of a share conversion at face value, being $13.50 per note, was declared. Based on my calculation, Mr Fogarty would pocket $42000, at current share prices within the month. This sniffs of inside trading. ASIC where the hell are you.
ERG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
