Speaking of Tolga, does anyone know what the assets are, referred to in the CSSN?
13/11/2018 Tolga Kumova; Kitara Investments Pty Ltd Receipt of shares as consideration for sale of assets $0.07 per share6,000,000 ordinary shares.
6 million @ 7 cents per share. He's waited a year to add to his on-market purchases from late 2017/early 2018 when he first became an SS. Must see value from here on in.
Also note that 28 May is when:The offer price for both the SPP and Top Up Placement (Offer Price) will be determined by applying a 20% discount to the volume-weighted average price (VWAP) of fully paid ordinary shares in the capital of the Company (Shares) over the five trading days, on which the Shares trade, prior to Tuesday 28 May 2019, being the proposed issue date under the SPP (SPP Issue Date).
Furthermore, from the SPP Prospectus: The Issue Price will be 80% of the volume weighted average price of Shares over the last 5 days prior to the Issue Date, on which sales of Shares were recorded, rounded up to the nearest one-tenth of a cent.
The market price of the Shares may rise or fall over the Offer Period.
The Issue Price structure allows for any news to be reflected in the market price.
Suggests they may be expecting positive news, of which this is part, to provide SP uplift for Issue Price.
Potentially there is a lot of good news flow in coming weeks - HEG asset sale update, Polar acquisition update - "Mandates are expected to be finalised shortly to undertake the process for securing the necessary capital," Canadian Government development funding, etc.
More to come here. Won't be trading as a well-priced shell for much longer.
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