The flip side to that is it’s a nice addition to the bank balance and a great show of confidence from a large shareholder as the 2.8c conversion is literally where the price stands, so not a lot to gain at present
Keep in mind the top twenty own 75% of shares on issue along with 75% of options from the last raise
And majority of those large holders have only added to their holdings in the fall over the last few years from 40c down to 1.4c
Seems to me they’d be wanting to maybe stick it out as they’ve done over the years right when the company is at its inflection point, along with the entire industry beginning to take note of such a serious issue
The flip side to that is it’s a nice addition to the bank...
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