I give credit to management for correcting an error in a past announcement.
Given we now know that LDA have been issued the 25 million shares and the price is being set in the 30 days after exercise of the put option, I would have given management more credit if they had also clarified whether LDA can sell shares in this period.
Hopefully HIO thinks LDA should not be selling based on a specific clause in the agreement, pricing mechanism, general good faith clause in the agreement, ASX rule or some other factor - and HIO are having those discussions with LDA.
HIO Management have been great at updating the Top 20 on a regular basis - perhaps it might be time to go back to weekly updates for the next month. The last run up in the share price started when Regal had sold out. Would be good to follow LDA selling and know when they have sold out.
HIO Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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