Novus were paid significant underwriting fees for taking the share price risk, and lets face it, we all knew from the time it was announced that the issue was underpriced at 1.7c. Lets not forget too that Novus and their clients have already fed at the trough of this underpriced share issue - refer the 14/12 announcement of this 1.7c issue - it not only included the entitlement issue but also a placement to Novus and their clients of $2.45m worth of shares at 1.7c.
I can't see any good reason why Novus should feed at the trough even further, hence if thats what happens, we shareholders should do what we can to hold the board accountable.
GGP Price at posting:
2.3¢ Sentiment: LT Buy Disclosure: Held
