I think the reason the share price has decreased from its high of 31c to where it is now is because the placement was at 18c, well below the recent high.
The only reason I am saying this is because a company i have invested in had an investment by a third party at 3c for a 5% holdings, and the share price rose following this from pre-raise 2c to now 3.6c.
Maybe the same market dynamics are at play here? I wouldnt be suprised if it did hit 18c then bounced back.
Benign Banter & Price Predictions, page-2041
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