but why is he doing this, page-5

The placement was for 45mill shares and they have 45mill oppies which they can exercise at 2c so:

* They will have 19.4% of LUM's if they exercise at 2c
* Their average buy price will be 1.3c
* Ingram will pretty much get all his money plus some more when the share price hits 2c, and Ingram sells his shares to them.
* Daws will have a controlling interest, however, I believe he'll only want 19.9% of the company with one of his gang on the board, which is possibly the guy who just joined the board a few weeks ago.
* Ingram will leave the board and sell his shares to Daws and Daws will appoint another person to the board
It'll be all over red rover for the old Lumacom outdoor advertising company.


I'll admit I called this one wrong and shouldn't have sold a fair chunk of my holdings. (Wonder how often someone in here admits they stuffed up :s)

NB I still haven't worked out the deal with the LUMO's yet and I believe Daws and co. may be buying them to help hype up the share price and get people buying LUM's. I think 2c is the target.