Financin at 0.60
in response to
by
posted on
May 31, 2008 05:40AM
Edit this title from the Fast Facts Section
That could explain today yo-yo
the private placement must comply with the private
placement pricing rules of the TSX, which currently require
that the price per security must not be lower than the closing
market price of the security on the TSX on the trading day
prior to the date notice of the private placement is given to
the TSX less the applicable discount. Maximum permissible
discounts are as follows:
Maximum
Market Price Discount Therefrom
$0.50 or less 25%
$0.51 to $2.00 20%
Above $2.00 15%
75 cents would've been the extent the share price could've closed at yesterday to fall within that rule. 75 cents minus 20% discount is 60 cents.
Could "Anon" have been Raymond James selling their clients regular shares so they could take part in the PP?....at the same time as keeping the price "in check"?
Now, Friday trading was IMHO, going according to an already financing deal, ie to keep SP in check to suit those rules.
ecce