It could be at any price but the previous placement to Lion was at 52c a share which was a 9.6% premium to the 5 day VWAP. The share price has never reached 52c following the placment so this price was a good achievement at the time. If it is to Lion again, they might be able to achieve a good price at a premium again, if it is to a third party, they you are probably right about the price. We will just have to wait and see.
Ann: Trading Halt , page-32
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