Yeah sorry guys for that mistake the info received was to place 64.5 million shares to raise 40 million bucks in 2 tranches Tranche 1 to introduce new institutions & lucky sophisicated investors is of 40 million shares. (done deal)
Tranche 2 24.5 million shares could be subject to EGM & i am very much guessing that this could be a SPP for existing holders.
IMO if the above is in fact true (and we dont know that it is) it is a great strategy by the company because it will dilute GFA shareholding whilst introducing completely new blood in the new instos & provide increased liquidity via the SPP. Well will have to sit back ,wait for the announcement & see if all this speculation is any where near being true & correct
CQT Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
