There was 8,046,000 shares issued on the coversion of a capital note holding on the 29th of feb. This holder didn`t hold the notes long enough to fold them so it would not be a surprise that hes sold the shares just as quick. Being off market it could be a transfer from his left hand to his right or to another SI who has longer term plans and an eye for a keen price. Take the sale out of the days volume and the below average turnover continued on the closing day even with a 21% premium to the strike price.
It worth a look back at the company into oct/nov and see the point when the SP first hit 2.1c on the uptrend. Reading the announcements of the companies position at that time and comparing to today is interesting. Then add in the additional shares. Maybe I am old fashioned but comparing a company to itself at different timepoints and the same shareprice helps the memory and investment plan.
Good luck to all those that are fully loaded after entitlement. Entitlement shortfall announcement on friday should give short term support as I believe the shortfall will be skinny.
GGP Price at posting:
2.1¢ Sentiment: LT Buy Disclosure: Held
