Trythree, the timeline in the cap raise term sheet.
When a company announces a placement, they haven't physically got the money, and they don't get the money until the settlement date, typically a week later. (not just KNL, but most companies). I'm 100% certain that those shares weren't allocated on the 7th. That wouldn't have allowed enough time for settlements. It's also why you don't see the Form 3B or whatever it is for a bit over a week after the placement, until after the settlements and stuff have all gone through.
Any selling done in the immediate aftermath of a CR is not the CR participants themselves, (EXCEPT where they are selling any existing holdings), as they don't physically have the shares yet.
Also bear in mind that when a high volume occurs after a trading halt or similar event, that's not necessarily all 1 seller equally 1 buyer. Once traders get in, shares can be double, triple, or quadruple counted. If trader A buys 1,000 shares in early morning, then trader A sells out at lunchtime, and trader B buys those 1,000 shares, and then trader B sells out in the arvo, for Investor C to buy in, the daily volume will show 3,000 shares trading hands, even though the actual portion of the company trading was 1,000 shares.
KNL Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
