Ann: Institutional Placement and Share Purchase Plan to Raise $1, page-88

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bakemeapie

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11/04/22

20:32

Post #: 60792656
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Originally posted by Pottermore: ↑

I think that raising capital was a good idea but ......
The share price was trading strongly at 4.5 and above ( check the volumes) .... then suddenly there was a swamping of the sell side.
IMHO somehow a major leaking of a cap raise got out.
I am confident that it wasn't from the NWE team as I am sure that Ernie Myers insists on integrity and would not tolerate sloppiness in relation to protecting Shareholder rights so that only IMHO leaves one option.
I believe that when NWE approached the placement company to discuss the raising proposal that the company did not protect the information and should be held accountable.
ASIC should do it's job and investigate and prosecute any of the brokers staff who breached privacy and blabbed to their mates who held NWE shares of the impending capital raise and facilitated shorting of the share price and dumping from people who were going to get allocations as sophisticated investors.
My opinion is that this caused the raise to be a full cent lower than it otherwise would have been.
THAT IS SIGNIFICANT.Not happy Jan ....

regards Potter

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Thanks Potter. I think you are likely correct.

SP tumbled on the same day we had the best news we could have - the highest flow rate record in Australia.
I couldn't find a convincing explanation other than what you mentioned.

SP tumbled 1/3 from 0.048/0.049 to the lowest 0.033 today. Are we going to hit another SP crash even with a positive ann?
I have no confidence but time will tell.

NWE Price at posting: 3.4¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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