Eyeoverit, obviously you don't know what you are talking about.
1) 2.1c offers there were MANY sellers and actually about 2m shares. With almost each trade was not x-traded. Many sellers agreed not to participate 2.2 spp and sold their shares at 2.1c (probably at lost).
Vs. 1.9c to 2.9c... very few shares traded and most of them were director Brett
Volume & many sellers are important factors. How many holders put NEW money into 2.2 spp? It tells us many holders are NOT willing to pay 2.2c to help company to continue on. Spp is NEW money (to run the company), unlike buying shares 'on-market' at 2.1c (just transfer of share ownership).
2.) Director pushed sp up 52%. Yes, it is free market. So if someone sell ONE share at 1.9c (when there was no higher bid), and pushed sp down from 2.9c then holders will complain. Can you find another ASX company where ONE director pushed sp up 52%?
Directors can buy, but there are few rules eg cannot buy to close to price-sensitive infor & should not influence sp by that much (52%).
What if ONE director sold $1300 worth of share and pushed share price DOWN 52%? Will you say "it is free market"?
Too many holders have biased view.
LCG Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
