He sold from his present holdings, or he sold his Tranche 2 shares he might have purchased.
If they were his tranche 2 shares it might be our best indication of the entitlement ratio?
Possibly pointing to an entitlement to purchase 1 share for every 5 owned, with the free option for every two new shares purchased.
This might mean Saxon was entitled to 20 million shares, and 10 million options.
If he sold the 20 million Tranche 2 shares, he's just picked up 10 million options free....and with thier anticipated future value, this could be quite an earner...
And good on him, he deserves it for assisting to get Ranau where it is today....and where it might be in a week, month, year.
A 1 to 5 entitlement seems to fit with numbers on issue, and number still to be issued....I think.
QPN Price at posting:
0.6¢ Sentiment: LT Buy Disclosure: Held
