This company is a bit mad, we have all been duped more than a few times. JH is off to rattle his saber in Sydney and see if any monkeys will fall out of the investment tree. Conditional underwriting is exactly what it sounds like. Pattersons do not have to underwrite the SSP if on the day the average of the shares is 20% less than the previous 5 days total. This means at the moment the share price is under that 8.6c by more than 20% ie 8.6c - 20% = 8.6c - 1.72c = 6.88c. At the close yesterday 6.6c is under the 20%. No wonder he is off to the big smoke to shake the tree. Its Pattos job to be financialy prudent they are not silly.
CTP Price at posting:
32.0¢ Sentiment: ST Sell Disclosure: Held
