When a company is already cashed up and has done a heavy dilutive raise very recently, it tends to signal the board know their valuation is high/ expensive and they want to “cash in” on that valuation. They didn’t want existing shareholders having any new shares at ~3c on a $10m cap. Only FMG got those. But hey, existing shareholders can have as many new shares as they want at 10c on a $40m cap! What a deal! Let’s get a bunch of Perth brokers involved to play with the stock. Even better!
Ann: Trading Halt, page-14
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