yes he does, plus we don't know but he might also be one of the underwriters for those small shareholders that don't subscribe.
So long as he keeps his total shareholding at less than 10% there will be no issues with the regulator.
And remember with more shares on issue because of the capital raise, he can acquire more shares and still be under 10%
This has been a nice little earner for me.
I sold shares at market at $1.50odd to acquire at $1.20 through the rights issue.
Does Bruce Mathieson get the 3 @ $1.20 for 5 held shares /, page-14
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