Lets wait till we see the top 20 after settlement of all issues is complete.
Gus has stepped up and is sub underwriter. Obviously Gus cant do this as it would be a teribble look for a director, but Saxon can easily sell on market for any price in the last month above .6c, and then pick up shortfall from the underwriter, and be in the same position, but with 50% of your heads holding in options...for free.
Smart play, and one I am sure a few have been doing, which explains the selling and helps to scare the market in not electing to take up allocation, hence ensuring they get their opportunity to take up the shortfall.
Remember people, Gus did NOT have to sub underwrite the issue. He has done this because he wants to own more shares at this price.
The next few weeks will be interesting.
Kiril.
I hold.
QPN Price at posting:
0.6¢ Sentiment: None Disclosure: Held
