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AJQ

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3.1¢ armour energy limited

No Director's interest change = no new AJQ shares acquired by...

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kombikarlos

175 Posts.

03/12/18

17:09

Post #: 36733393
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Originally posted by bm3121 ↑

Am still awaiting announcement regarding how many shares and options N.M. has. We know that he picked up a whole lot in the last capital raising but NO announcement as to his current holding has resulted. Company has also not advised whether it has received all the money raised from capital raising nor how many shares are currently on their books. Thought it was required that when an entity went over 5% or a significant change occurred while he is a director, that a formal announcement had to be made. Stubbs has made such a declaration as to his holding when he resigned. ASX rules certainly require an update. Not even sure whether he has paid for the whole lot that that he guaranteed to purchase. $3 million plus, from NM together with the $4.5 million from shareholders has been acknowledged. What happened to the other $2 plus million. Remember it was a 1 new share for every 4 shares held by shareholders and from memory only about 45% of the total $10 million or 100 million shares issued were taken up. So together with NM's holdings at the time of CR, plus minimum of 55 million shares coming his way, he will well and truly hold a very significant amount of company. My calculations put his holding at well over 10% mark.

We have has a couple of announcements from company senior management, including Maher, but no details have been released. Hopefully, the ASX and the relevant powers are monitoring this situation. Has a sweetheart deal been made to hide his accumulation and perhaps non-payment of all that he owes.......remember he has the power to hold off making such lawful obligations (or has he?).

Remember that BHP paid a 30% premium price for SOLG to buy their last 5.5% and here we have 10%plus purchased by NM without so much as a confirmation. A lot of shareholders must be shaking their heads. I recall the not so brilliant announcement made a few days before the CR was concluded which possibly made a few (55% didn't take up their entitlement) allowing a lot more shares to go to NM. Perhaps the market has worked out this/his strategy and that is why holders have lost confidence seeing the price of their shares continue to collapse.

I don't hold shares in AJQ but have seen a pattern occur with DGR and SOLG and that is why I forward this post.

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No Director's interest change = no new AJQ shares acquired by Mather.

The shortfall under the Rights Issue was placed to third parties.

AJQ Price at posting: 9.0¢ Sentiment: None Disclosure: Held
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No Director's interest change = no new AJQ shares acquired by...

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