Most likely just liquidating so he can convert those options. There are 37m issued shares, and 18m options. Every 1m options you hold will require $900k to convert, it's not chump change.
The company has MC of about $40m today, but given that options will now be exercised the MC in January will be $60m even if the share price doesn't budge. It's a big dilution and that's definitely causing some of the downward pressure on the SP.
Most likely just liquidating so he can convert those options....
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Last
$4.48 |
Change
0.150(3.46%) |
Mkt cap ! $218.6M | |||
| Open | High | Low | Value | Volume |
| $4.35 | $4.64 | $4.21 | $981.7K | 219.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $4.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.50 | 3537 | 2 |
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| Last trade - 16.10pm 20/09/2024 (20 minute delay) ? |
| FND (ASX) Chart |