shareholders ripped off

A previous post suggested Hartleys had valued RFE at $1.05 a share.....and then they bargain for a 20% discount from the previous close of 66c and receive placement at 55c a share......Sad

This quote from the company....
“This Placement has not only provided the funding for our aggressive development program
in Oklahoma, but also introduced to our register a number of committed Australian and
international institutional and sophisticated investors – individuals and groups who we feel
will become important partners as the company continues its development.�

of course they will, if you give them an instant 20% profit at the expense of shareholders...and by the sounds of it they intend to keep giving their new friends discounts on plenty more raisings........poor effort by management...
Cheers