It appears as though the Directors could only get 2.4million of new money in the Share Placement.
So how much did they fall short by?
I also note that in order to confuse things, the free options tha Directors were given have been announced today:
"Option Issue as approved by shareholders at General Meeting held on 18/3/2011"
Talk about mincing announcements! That w8ill confuse a lot of people who may think that more activity came from the SPP than what actually did.
Fact is, they fell short because thwey had no support. Draw your own conclusions as to why they fell short and why the Directors needed to participate in the SPP. My own theory is that they were made to get a minimum figure from the banks or it was curtains - so the Directors chipped in. My reasoning is that they have never bought a decent sum before now, so they must have been forced somehow.
L
MAE Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
