Ann: Malagasy Completes 15% Placement , page-4

I say it becasue MGY say it in their announcement:

"...issued predominately to investor clients of Patersons Securities Limited."

I guess it depends a little on your definition of "many people". In this instance i suspect "many" is actually "not many".

What i'm complaining about is that if they're going to dilute the SP then they should give shareholders the opportunity to rather than some select investors - especially when the SP performance has been dreadful since listing.

Anyway, let's hope they're turning a corner with the merge and the new find.

FYI - I bought some significantly higher than 3c and some when they were closer to 2c (a long time ago).