I wonder why the price jumped yesterday before the trading halt? I assumed there was going to be some kind of special announcement that had been leaked.
Turns out its a capital raising... Definitely not a coincidence. To me it looks like management have been waiting until there is a breakout so they know the price is going in an upward direction. Then they can announce that they are doing a capital raising at an X% discount to the price over the last month. And obviously the capital raising will be purchased by themselves or some affiliate of their company so they can purchase at a far lower price than the share price actually is while making it look like a reasonable discount.
Ann: Trading Halt-CNJ.AX, page-6
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