Wish more posters here would admit that the plans for merger were being drawn up prior to cap raising and as you stated...no matter what monies were involved, if a director or company employee for that matter, buys with prior knowledge of an event, that has legal implications under insider trading. Self gain becomes a motive whether intended or not.
Seems to be many investors who think takeovers happen overnight. Get over it people! As I said before legal, financials, logistics, geo-surveys and valuations etc take considerable time before parties reach agreement on whether synergies are relevant or not.
Why was there a need for a cap raising? Answer me that and justify it please.
amok
IGR Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
