To give you an example of what can happen with these 1 share trades, the week before last I decided to load up on some shares which were on the market at 17 cents and I put a bid order for 10,000 shares at 16 cents. On close I manage to purchase 1 share for the 16 cents, thus giving me a total cost for that share of $15.16. ($0.16 + $15.00 for the trade).
Lucky for me that I already owned shares in that company before the event so that it averaged across the board, otherwise I would have had to chase the movement in price up so that I could have gained a marketable parcel of shares.
There is no doubt in my mind that both the ASX and ASIC should revisit this anomaly.
Now for Cottee to refer these 1 shares trades to ASIC, that is totally beyond me and only costing someone money and time.
CTP Price at posting:
17.0¢ Sentiment: None Disclosure: Held
