Before the ipo @ 20c, there were seed investors, promoters etc. who got their shares for free or much cheaper than you and I. The ASX restricted them from selling their shares for a period of 24 months. They now can freely trade them, almost $5M of them. This is likely to have a negative impact on the share price. Hope this makes sense.
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- Ann: Appendix 3B
Before the ipo @ 20c, there were seed investors, promoters etc....
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