Ann: Application for quotation of securities - IMU, page-2

So Precision were issued 87,999,186 shares on Tuesday at 0.0544 per share as part payment for the Azer Cell license. They also received around $10,000,000 US in cash.

I might be wrong but I imagine they'll be liquidating all these shares quickly as it won't be in their remit to hold shares in an ASX listed company so this will certainly add to the selling pressure until they're done.

Hopefully they churned through most of them on Tuesday and yesterday and we can find a base somewhere soon.