Every time the MAN raised capital at a huge discount he blamed the market for not be willing to pay more. Now, this time the market is not invited, firstly it was, but failed- so we have been told. Now he could have set the raise at 1c, due to early signals in CDH17 and the $4m grant. That would have even encouraged some 0.8c oppie holders to convert. But no, 0.5c. Killing any positive momentum before it could even emerge.
Why? He knows the ASX participants run when a bargain is up for grabs, totally the opposite to supermarket half price offers. So, he knows that hardly anyone will participate and he can officially and legally grab the shortfall. You think that's not the case? It is similar to when raised at 2.8c. Even I got a special invitation to absorb the shortfall.
His intentions are clear: Grabbing many shares as an alibi to always have supported CHM with his own money but getting it bankrupt and delisted and buying it for the symbolic $1. Soon after that we will read that some big pharma bought CHM for at least USD1b from Hopper.
The MAN is playing everyone like a fiddle and still holders are willing to dance to his tune.
CHM Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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