On the original copy of disclosure submitted by MS there was a huge churning situation by this fund, buying/selling all the way from around $2.00 (from memory) to around the present price of .55c.
in my opinion, its quite possible that some of the share value lost could be attributed to this action.
With the clout of a fund of this size, if they end up with cheaper shares at the end of their churning action in this environment, the nett losers are shareholders caught up in their plan.
It was obvious to some, myself included, there was something going on in the preceding weeks as at certain times on certain days there was some strange buying action in what was huge turnover with attempted and obviously successful capping etc.
All quite legal, but its not hard if you have the resources to manipulate the price under the circumstances.
I only hope they are on a winner.
R/Rob.
OZL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
