Ann: Placement and Share Purchase Plan Announced , page-4

re: Ann: Placement and Share Purchase Plan An... Agiotage - I wouldn't be so sure that the seller was acting on any inside information. While not totally discounting the possibility - you would think that selling some on a spike would be a wise decision. Would be more suspicious on no spike.

Also it is very common practice to do a cap raise on good news like this in spec-caps. PTR is not alone in raising capital on good news. So it might also be that an impending cap raise was perceived as likely by the seller as well.

Finally - it is obviously likely that the underwriters sounded them out about whether they would take part in a cap raise. When and how they went about this - I would hope they will have notes for the regulators as to how this was carried out to "avoid" having trading carried on inside information.

Very complex - I try not to let it distract me from evaluating the situation dispassionately.

I think the SP will go below the cap raise price - usually does