observations: raffles capital limited (RAF) sell 35M at 5.4c to...

observations:

raffles capital limited (RAF) sell 35M at 5.4c to raffles co limited (RCO), both signed by SOC's chariman Henry.

RAF, RCO and SOC have the same mailing address.

RAF's previous 604 (change in substantial holding) dated 11/2/15 says they have 27M shares, so since then they have increased their holding by 8M shares without notice.

RAF held the shares at the record date for the SPP, so RCO cant participate.

Looks like Henry is injecting some cash into RAF to participate in the SPP.

meanwhile today 20M odd shares sold on market for 0.2c

I suspect the SPP will go through at a VRAP of 0.1c, the big holders will take up their whole entitlement and dilute the smaller holders (and bergen) out of the picture.

stuffed if I know what to do, but a speeding ticket from the ASX wouldnt go astray.