If it is JA and perhaps a pal (not a related party of course!) that bought 70% of the 214m new shares then with his 304m holding, they would effectively control enough shares to block a special resolution ie significant share issues, the remuneration report at an AGM, etc.
25% of enlarged SOI = 581m shares, assuming every share is voted which never happens.
I’m betting this is the game. Why build a 14% stake and stop there?
Ann: Trading Halt, page-50
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Last
14.0¢ |
Change
0.005(3.70%) |
Mkt cap ! $315.5M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 14.0¢ | 13.5¢ | $38.78K | 286.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 344620 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 735437 | 30 |
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| Last trade - 10.50am 29/07/2024 (20 minute delay) ? |
| INR (ASX) Chart |