Interesting that in regards to the 200,000,000 proposed in Resolution 3. to be approved by shareholders at the forthcoming meeting. So really this calculation ought to ' imply ' that the weighted average price traded in the 5 days was in fact .003125 cents.
So it would appear to me that the ' Smart ' money was that which had read the Meeting Announcement , and then got themselves positioned at the exact same price these fortunate few ended up getting their shares for......
So what's half a Pip amongst friends ....and one has to wonder why they then went straight for the Capital Raise .....though a Manager when the Meeting Resolutions ' Painted ' a completely different picture with ANY potential raise happening down the track and at the Director's discretion.
The only reason I can think of is that they felt the SP was nearing the point when it was going to ' Bolt ' out of the gates .....so they needed to act quickly in establishing the price at the most Favorable for the Fortunate Few Soph's.
in my opinion it certainly brings a whole new meaning to the acronym
F.F.S ....
(c)the issue price of the Shares will be not less than 80% of the volumeweighted average price for Shares calculated over the 5 days on whichsales in the Shares are recorded before the day on which the issue ismade or, if there is a prospectus, over the last 5 days on which sales in thesecurities were recorded before the date the prospectus is signed. TheCompany will not receive any other consideration for the issue of theShares;
