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?
If it is JA and perhaps a pal (not a related party of course!)...
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Last
15.0¢ |
Change
0.005(3.45%) |
Mkt cap ! $348.8M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 15.3¢ | 14.5¢ | $1.140M | 7.625M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3299 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 391943 | 9 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| INR (ASX) Chart |