Ann: $12m Institutional Placement and Announcement of $3m SPP, page-94

Yes I ended up buying back at 36.5c the ones I’d sold at 37c simply because having held for such a long time in that account (which of course is the one which is smallest and has residual tax losses, so nothing seems to work for it) I didn’t want to risk getting $200 worth instead of $15k worth in the SPP. Only this SPP is currently holding it back, and perhaps fear of insto scalpers selling down (probably legit fear). However, one significant contract announcement before the end of the year or early in January when instos are away and it’ll be like trying to stop a 30kg kingfish. I’m not a believer that instos will “conspire” to knock down shares to discourage the SPP. They are committed in the placement anyway, and the SPP currently encourages small selling by retail. Its small biccies compared to a rising share price and better end of year portfolio valuations (therefore higher fees, more bonuses).