I am aware that some ASX entities raise money using the ATM service that are provided by companies such as acuity capital http://www.acuitycapital.com.au/acuity
The way it works is simple enough, acuity borrow a line of stock, sell into the market then use the proceeds to take a placement at a discount to the proceeds of sale just realised and return the stock to the original owner. I'm not suggesting this is what happened yesterday but if it did, then the company just raised 474k by taking out the buyers in one swoop. It would be good to get some confirmation about what took place yesterday. the timing of the sale and placement raises questions...if KBL is utilising an ATM service, what next? take out the buyers at .oo4?
KBL Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
