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!)...
Add INR (ASX) to my watchlist
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Last
24.0¢ |
Change
-0.005(2.04%) |
Mkt cap ! $569.7M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 26.0¢ | 24.0¢ | $583.6K | 2.349M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 332412 | 24.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 329573 | 27 |
View Market Depth
| Last trade - 14.54pm 22/05/2024 (20 minute delay) ? |
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Last
24.0¢ |
Change
-0.005 ( 2.24 %) |
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| Open | High | Low | Volume | ||
| 25.5¢ | 26.0¢ | 23.5¢ | 1403771 | ||
| Last updated 15.08pm 22/05/2024 ? | |||||
| INR (ASX) Chart |