there is a scheme of arrangement where the companies shares are to bought at about 70c...the chart suggests it was announced in april ....... due to delays with regulatory approval the scheme of arrangement has now been extended until the 31st. December ....... in addition to this an article in the fin review today suggest that GFF's potential earnings may now jepardise the arrangement due to lesser profits on bread sales and sales volumes of their spreads...... so the share price has now been falling - now @ 62c. there seems to be a lot of doubt here as to whether it all will go ahead......
I had one small to medium sized short on at 64c. I have now followed that up with a further short at 62c. due to this info,
the share price movement and the now very favourable buy /sell ratio...
hoping that the downward movement will continue......
