FRE Last Price: 3c
FRER last price: 0.7c (which =FRE1.7c after exercise)
Custodial are the key players here.
They took 17million shares at an avg of......wait for it.....
.....1.3cps - that's right 1.3 cents per share.
Plus they get the 1 for 1 rights to buy another 17mill at 1c ($170K) plus any shortfall.
AVG PRICE FOR MINIMUM 34MILLION SHARES - 1.15cps
Last price 3cps = approx300% profit as of today
Bidding 2cps = 200% profit
Cheers,
The Sparkler