There is one flaw with that theory, There have been reports that we will see 2 new substantial shareholders. To become a substantial shareholder, they would have needed to take up at least 22.7 mil shares = $13.62 mil.
What is the point of pumping up the stock to raise funds at the highest price in EGR history (expect 3 trading days prior to the Trading halt) be locked into the ASX requirements to lodge a 'Becoming a substantial shareholder notice'
It kind of kills your end game if you start selling shares where you drop below the 5% Sub shareholder limit, where everyone will know that you are selling,
Nameslittle forgets that there were only ~22 mil shares that traded above the 60c CR price,
there are 344 mil shares that well traded well below 60c, that can take quick profits.
If we all thought the Insto's were going to sell for quick profits, the shareholder who holds the 344mil shares would have already sold to drop the SP.
EGR Price at posting:
87.0¢ Sentiment: Buy Disclosure: Held
