Between 1c and 1.2c if we consider $ 8.5 - 10m at hand. About 850m shares on issue.
The writing was on the wall that this EGM notice would kill the sp even further down. Pretty sure he was considering it and did it deliberately to crash the sp. It is his way to make sure that in the end he ends up holding 19.99% directly and probably more than 30% indirectly to have total control. The lower the sp the more retail will be selling and not participating in any CR. Next step is selling for a few hundred millions either to big pharma for cash or to IMU for scrip. If the latter, then he will continue the same game at IMU as he already has started the same strategy with last year's CR.
End game: Hopper will frustrate retail out, getting family and friends in at almost nothing, then suddenly he remembers how valuable CHM / IMU are and sell it for what it is really worth. Centro group is a great example how this is legally done.
GLTA
CHM Price at posting:
2.0¢ Sentiment: None Disclosure: Held
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