"Cornerstone Investors" are usually large institutional investors or well-known individuals to whom shares [of an IPO] are allocated [under the placing tranche at the IPO price] to signal to the market that [the IPO] is a trusted investment and is worthwhile for other investors.
Rey is not what I would call a large insto
Nor does it fit the bill of cornerstone investor
Rey itself is cash-strapped looking at its last quarterly activities report
I didn't get the signal.
Seems we are really getting down to the bottom of the barrel now, so what does NWE stand to get from Rey exactly - it's not obvious at the minute. But Rey get their shares at c20% discount to the market.
NWE Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held