bergen asset management, page-4

Mapreader,

I have to agree with AugustusGloop on this one, every stock I have seen (may have missed a couple) on the ASX that have gotten involved with Bergen/Springtree for funding has seen a large decline in the stock price.

My understanding is they convert their shares at 90% of current price and sell the shares into the market, making whatever they can (5,6,7,8%), dragging the price down with
it, then issuing more shares and repeating the process.

The announcement did say there were caveats on selling shares, but will be interesting to see whether these are water tight and whether they follow the agreement.

From CFU's point of view, it was probably a necessary evil with the funding situation, but they are not someone I would want on the register.