Number of shares currently on Issue = 2,073,547,651
That's a very big number... and yet, there are less than 13.5m shares currently up for sale... that is 0.65% of shares are currently up for sale.
Top 20 hold 77.78% of the company... yet the rest of the shares are not up for sale, and the top 20 have barely moved. Talk about Tightly held!
Oh, but it gets better... because Guess what happens on 30-Dec-16.
nearly 700m options will expire worthless!
But then again... I have never known these big boys to be happy to watch easy money go down the drain...
Combine that with the constant soaking going on for the last couple of months...
Well time will tell. Come January, the company will either have a cool ~$7m in the bank with an Share price sitting above 1c, or it will have wiped out 35% worth of overhanging Options.
Definitely an interesting situation.
All just an opinion and never trading advice.
Ann: Minbos Annual Report for the year ended 30 June 2016-MNB.AX, page-2
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