Notice that no announcement from CEO/Director Maher has occurred as to how many shares he now owns in AJQ. He bought all the shares not bought by existing shareholders in the 1 for 10 share at 10 cents per share capital raising when it raised $10 million dollars. Believe some $5.5 million raised from shareholders with the other $4.5 coming from Maher. He therefore owns some 45 million shares plus whatever he owned prior to CR and the shares he purchased from his 1 for 10 rights issue entitlement. Great pick up, making him now the 2nd largest shareholder after DGR, which incidently NM owns 20 % of. Must be good to be in a position to be able to pick and choose when such huge purchases in a company with so much potential is made. No competition on the open market should he purchased a similar percentage. How much money would BHP have paid for SOLG should it tried to buy 6% on open market?
How many shareholders would have purchased their total entitlement should that negative results announcement a couple of days before CR concluded, is a matter of conjecture? Now the money has been raised and guess what more positive news occurs. How lucky can this fellow be!
AJQ Price at posting:
9.6¢ Sentiment: None Disclosure: Not Held