Ann: Ceasing to be a substantial holder, page-81

Pfuzzy,

"Why would SBM pay 1c above market when they can keep getting shares at a discount?? "

I must disagree with that.

SBM paid 20.5c at that time it was at premium. After that there were many holders sold out at 20-25c, everyone could get similar prices to SBM if you had bought at market.

Only 40c raising was at a slight discount. We didn't trade above 40c for long and I noticed just before raising stock was pumped up from 42c to 45c. After that raising there were many holders sold out at 42-45c, everyone could get similar prices to SBM if you had bought at market.

Than Resource Fund sold out. They want to sell out because of their own reasons (eg cannot overweight too much on an exploration company). That was a special cross trade, ie a deal between fund manager and SBM. This deal usually done even one month before actual cross trade. If one month before cross trade, our share price was trading at 48c than deal done at 50c. After the deal was signed but before actual cross trade date, even if our stock rocketed to $1 or collapsed to 10c, they will still have to honour the deal price of 50c. It just so happen our share price went up above 50c.

If you hold a large block of shares, you can do deals with other large holders eg on 02/01/2018 cross trade at 65c to XYZ. If on 2/01/18 our share price rocketed to $1 or collapse to 40c, that deal signed will still be honoured. They can even do after-hour cross trade on 1/1/18 (public holiday).

That's why ASX did not include that 50c trade into our high/low for that day or other metric measure (eg weighted-avg share price).