NEwing on volume, page-40

@chuk unlikely instos will buy on the market at this stage for this share. They just would not be able to get there hands on the numbers they are after without forcing the price up quickly to a level they would not be comfortable that’s why a lot of these initial institutional buy ins occur as part of a CR to sophisticated buyers. I am just amazed they bought in at 1.36 and not a greater discount for 4% of the company. A company would only do that if they were very confident in what they are buying. This has traded in roughly a 15-20c range (1:30-1:50) over the last month. If you are buying 22million shares i would have chased a CR at a discount (10-20%) on the bottom of that range to protect such a large outlay. The fact it took place as a direct block sale and not a CR highlights one the company does not need money and two that institution really wanted in!