Anybody else calculate the average entry price of Helmsman's latest acquisition? Works out at 4.0c per share, yet QRS low for the past 12 months is 4.1c.... and their notice says it was on market trades. Very dodgy indeed. Why do they get to buy at 4c when nobody else could? I'm pretty sure they can't buy any more - last time I looked, shareholders with more than 20% of a company were limited to buying no more than 3% extra in any 6 month period (under the "creep" provisions), and they have now bought their 3%.
I'm getting worried that QRS haven't yet announced how they will fund the acquisition of API. These guys have a track record of being "taken for a ride" by investment bankers when it comes to acquisition funding. I smell the destruction of more shareholder value - the longer it is taking, the more worried I get.
QRS Price at posting:
5.9¢ Sentiment: None Disclosure: Held
