See below, M&G did very well buying in CR and then taking part in the “strategic” company supported acquisition of 20% of FBR by BKW.
17th June - $4mill placement @1.8c M&G take 2.5million (138,888,889 shares) 7th July - 56 million options issued to directors with 2.25c strike price 8th July - BKW get special CR @1.8c 107,201,578 to get to 4.93% 15 July -17th July - BKW buy small amount on market at 2.3-3c. 19th July - BKW substantial holder notice 5.05% 20th July - BKW buy on market another approx 6 million @3c 10th August - 55 millions options get converted @2.25c by senior management (issued 34 days earlier) 10th August - BKW buy 55 million shares off market from [email protected] (550k profit for SM) 30th August - 56 million options issued to same directors with 3.5c strike price 30th August - M&G sell 135,700,000 shares to BKW @ 4.794c (BKW 11.94%) 5th October - 72,500,000 shares traded off market to BKW @ 5.5c 5th October - approx 18,000,000 shares purchased by BKW only market 4.7 - 5.5c (BKW 15.17%) 27th-28th October - BKW buy on market approx 25 million (~4.8c) (under 1% disclosure) 31st October - BKW buy on market approx 12 million (~5c) 31st October - BKW XT after market close 35 million @5.3c 31st October - BKW take 30% of CR 153,590,044@4c
FBR Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
