Loyalty option issues have been happening for the best part of 20 years and I myself couldn't count how many I have been a part of. As
@MickeyMantle536 pointed out it was all disclosed in the original prospectus and I have sat back accumulating knowing that was the case. As for subscribing you only had to go onto the registry site and download the form - you didn't need to wait for it in the mail. I guess that's another advantage of having a good broker, mine put me onto that.
I love buying structures like this, low EV of circa $4m to $5m, and an incredibly tight structure. I totally disagree with these "pump groups" who fill in innocent people, all of them should be investigated by ASIC. From a shareholders perspective though what they have shown is how good the capital structure of ALB is and the sniff of any positive news that gives the market a "real reason" to buy it will see this stock move very quickly.
And yesterday I was buying stock cheaper than what it was trading at last week before the pump group got involved - absolute stupidity in my mind and if ever the phrase "transferring wealth from the impatient to the patient" was and will again be proven to be correct, this is a superb example of it.
Bring on the news flow and lets see how we go,
Ted.
(20min delay)