The price was not manipulated down like you said in your post "doggy". 1m+ shares sold lower than spp price of 2.2c and many sellers indicated that holders are not happy to subscribe more shares. I've seen that sort of things before, many times from my many years of experience in ASX.
IMHO it is a way holders try to ruin spp by offering 2.1c 1m+ shares for sale... saying "don't subscibe".
Then holders will not subscribe but some holders will buy at 2.1c (instead of 2.2c spp price). Before annoucement of closing spp, I already knew NOT many subscribers. Spp at 2.2c failed dramatically... meaning FWL will need more placements and/or another spp. After spp at 2.2c sp moved quickly to 1.9c, that make even harder to do another spp.
Now by spending $1300 to push sp back to 2.9c by director is questionable move. Director buying should not push share price up MASSIVE 52% in a few days of trading.
LCG Price at posting:
2.6¢ Sentiment: None Disclosure: Not Held
