The devil is in the detail for this prospectus at 4.3. Didn't make sense to me at first, so I reread it.
So CMY issue a mere 1000 shares at 1 c each only to raise a lousy $10 just to lift the trading restrictions on the secret deal they did on 18/9. That deal is subject to non-disclosure rules so we don't know who picked them up. 80,000,000 new shares (post consolidation) issued at 1c each injecting $800,000 working capital into CMY. This then makes this person/s the number 1 shareholder above CHP at 31,000,000.
This is just a wild stab in the dark and I have no evidence to assert but ... i'm guessing it was Ben McGrath and Jamie Pride picking up an extra 40,000,000 each in a way which they don't have to tell us about. Why would Chapmans/CMY being Dykes and Dunlop want anyone else to take the top spot in holdings above Chapmans themselves? Another step closer in the RTO.
CMY Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
