What we were informed about was that there was to be a placement of 250 million shares at 1.2 cents. (This was included in a resolution at the EGM for goodness sake!) You could buy at 1.1 cents, for example and secure stock under the placement price.
What traders were not informed of last week was that, semantics aside, the reality was that there would be 300 millions shares issued at effectively 1.0 cents.
Oops, those brave and "lucky" punteres who were able to get stock last week suddenly have to reconsider their position.
I think the ASX AND ASIC should have a very good look at this what has transpired here.
My sentiment should be sell - but I can't because prices are now too low. I'll just keep my sentiment at hold.
VHL Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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