Thanks for elaborating, gamblore, I can see where you are coming...

Thanks for elaborating, gamblore, I can see where you are coming from.

As you point out, the effect of Capital in selling out shares picked up in two CR's has helped depress the share price. It's at least conceivable that they supported the cash raisings after lobbying from Ron Lauder, and if that was the reason, and they wouldn't otherwise have bought them, then that is the reason to get rid of them.

There doesn't need to be any conspiracy about that, had Capital not subscribed, the capital raised would be US$29m less than actual, without doubt resulting in the need for a further CR at likely an even a lower price.

Your point though, that Ron has somehow orchestrated all this to reduce his cost per share doesn't stack up. Any of us have benefited from the same thing if we have been holders for long enough. It is clear by the options granted with a 90c strike rate that the belief was that the business would progress a lot faster than it worked out and that future CRs would be 80/90c range.

We know that didn't work out.