Just to illustrate how tightly held this stock is;
In 2013, RES offered a 1:1 entitlement offer to existing shareholders at 22c. There was a 16.7% take up which equated to approx 47m shares. PJ took his full allotment of shares increasing his holding to just under 18m. Since then, PJ has increased his holding to 24.3m (as per the last T20).
The Entitlement Offer shortfall of around 237m shares was placed to PIC, Noble and Altius at 22c.
Earlier in 2013, RES announced a strategic partnership with Noble and did a placement of 21.3m shares at 40c.
Our current 7th largest shareholder, Integrated Coal Mining, bought 18.2m shares in 2010 at 57.5c p/s.
Our current 8th largest shareholder, Bantal Singapore, bought 12m shares in 2011 at 82c p/s.
So basically, the overwhelming majority of shareholders in this company are so far under water it's not funny. I'd be keen to see an updated T20 if anyone has access???
