Just been doing a bit of research on what happened to Emyria...

Just been doing a bit of research on what happened to Emyria when Andrew Forrest took a position in that company in Nov 2021.

They went into a TH on 19 Nov 2021 to announce a 'strategic placement' - last price for 18 Nov 2021 was 32.5 cents.

Andrew Forrest's investment Co took a placement of 20m new shares (8% increase in shares on issue) at a price of 0.25 cents - over 20% discount to market price. He also took options for a further 10m shares at 40 cents per share with a 2 year expiry.

The shares recommenced trading on 22 Nov 2021 and closed at 0.39 cents, peaking at 49.5 cents on 1 Dec 2021 before coming off - possibly selling pressure off the back of the run up or maybe just following market trend. So the first day of trading after the placement was announced, shares closed up 20%, and 56% above the placement price.

Looking at IHL and EMD charts since 1 Oct 2021 to now, they are highly correlated yet IHL has dropped 33% whilst EMD has only dropped 18% - and IHL has so much more promise that EMD (IMO of course) making the story more interesting.

So I guess the message here is who knows what impact a strategic investor can have on a share price. And using this example, if I held EMD I would be annoyed that Twiggy got a bunch of shares a 20% discount, until it re-commenced trading, and then I might start to see the value that a strategic investor could bring in terms of lifting the profile.

We will wait to see what happens but a strategic placement at a discount in a CBD biotech does not always mean a sell off.

GLTAH

R