OptionCo have NOT sold out

There is a rumor that OptionCo have sold out.

My understanding is that OptionCo have simply lodged a legally required notice that they cease to be a substantial shareholder. This was because their combined holdings dropped below 5% of the total CTP shares on issue following the placement of 90m shares ($9m of the $27m total capital raising) last week. All shareholders felt the same dilution which I calculate to be 17%.

Whether any OptionCo member has sold any or not I don't know but common sense would dictate that these shareholders would be holding to take up their rights rather than selling? If we as shareholders take up our rights we limit the dilution to 17%.

With good news to come one would have to think the stock is currently at the bottom of the J curve?

Denny Crane!