@Trapper ....
Before the IPO JP owned 6,962,517 shares in the company. According to the prospectus 23/8/2010 (on ASX historical announcements, not on SGQ announcement pages!!).
From the investigating accountants report on pg 77 of the prospectus .....
"
St George was incorporated on 19th October 2009 with an issued capital of one ordinary share. During the period to 30 April 2010 the company issued a further 19,999,999 at 0.8 cents ($159,999.99). In addition to 30 April 2009*
a further 4,000,000 ordinary shares issued at 1 cent to raise $40,000 and 1,000,000 ordinary shares issued at 2.5 cents each to eliminate a debt of $25,000."
* this is an obvious mistake, should be 2010....
Out of original 32,500,000 shares in St George the first 24,000,000 came from raising just $200k.
Then there was seed capital raising the costs of the issue 7,500,000 shares at 8 cents each, then the IPO raising $4,000,000 at 20c per ordinary share..
John Prineas was a foundation shareholder, he had 6,962,517 shares before the IPO, and after the IPO according to the first top 20 shareholder list had 6,962,517 shares.
https://stgm.com.au/uploads/documents/ASX/20101112_Top_20_Holders.pdf
So didn't purchase any in the IPO at 20c according to the companies own documents!!
So where did the myth that JP put in $1.5m of his own money into the original IPO come from??
