HGO 1.79% 5.5¢ hillgrove resources limited

EHL restructure approved, page-8

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    In their change of substantial holding notice Ariadne has purchased on market and off market at prices roughly ranging from 6 to 8 cents per share so the starting point for a bid would be about 8 cent if they go down that path. They did very well under the recapitalisation but then again all other shareholders had the chance to load up on notes and options at the same time.
 
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