Malcom Day buying 20,000,000 unlisted options at 1c each in an off market trade only gets 2 thumbs up? Why?
It would appear that the 20,000,000 unlisted options that the Malcom Day has just purchased off market for 1c each were part of the FREE 200,000,000 10c options expiring on 30-Jun-2020 that were issued to Everblu Capital.
If they are part of Everblu’s then Everblu just made $200k
In my thoughts, it’s easier and a lot cheaper to get a director to buy some than convert and sell (dump)
Imagine converting 20,000,000 at 10c ($2m) and trying to dump 20,000,000 million shares on market at 10.5c to make $100k with the SP hanging around 10-10.5c, So just get a director to buy them.
Other than the above, to me it seems a bit odd that Mr. Malcom Day has purchased them. Unless he knows something that we don’t? But that would be against the rules, isn’t it? The imagination could run wild with this one.
Thoughts, anyone?
Ann: Appendix 3Y - Malcolm Day, page-2
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