Geopacific Resources Ltd (Geopacific ASX: GPR) notes that Pacific Road Capital has today sold its 6%shareholding in Geopacific on market to a range of existing institutional and sophisticated shareholders.
I think this is a tad misleading. Why is it relevant ? Because Pacific road just wanted out, a broker made a price for the stock and did an on market block trade. It was not a placement as suggested above. That's who is selling. They have been selling since 7/9/18 patiently at first now they are just getting out of the balance. It's what banks and brokers do, that's why the price of 1.8 cents for the 6% was at a discount, 25% as market was 2.4 cents.
Should be finished soon. Then up
What’s happening!, page-28
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