It was announced that after the rights issue BAS had 388 039 613 ords in total of which the underwriter GMP Securities had to place 75,515,829 shares.
As no additional substantial shareholder notices were filed, it is assumed they went to a number of homes and each tranche sits under the 5% disclosure level of 19,401,981 ords.
Perhaps they were waiting to see what came of Windermere-3 and are now overhanging the market. They cannot be associated with Adelaide Equity or they would have been declared in an updated substantial shareholder notice by them.
Does anyone have better knowledge?
BAS Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
