To add to point 3 - if the finance deal with Mellewar was like other smaller investors then the title/ownership of the shares reverts to ANZ/Merrill.
Potentially the whole Opes thing is subject to Law suits eg class actions being instigated by smaller investors.
This could take alot longer than 24-48hours to sort out and therefore what will happen to trading of GBG?
Surely the shares will be frozen once they trace who they have been lent to and then I expect that the ASX and ASIC will place a hold on ANZ/Merrill doing anything with the Opes shares until such time as things are clearer or sorted. But my reasoning over the week-end was that ANZ/Merrill had already time last week to sort out their legal entitlements (ie they were 1 step ahead of everybody) - hence their decision to sell shares on Friday in many stocks.........
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
