Ok – where is ASIC? I mean, seriously, WHERE IS ASIC?
Firstly we have a blatant abuse of ASX listing rules, and then – in the same day – after a meteoric price rise on the back of a meaningless and manipulative announcement, Prima Biomed (ASX : PRR) offers a share purchase plan? After-market, 18:47.
I have always tried to keep this site reasonably PG and I know that bad language isn’t classy, but are you f—–g serious?
Prima, do you understand what you have done? You’ve just pushed the market to a 8.5c price point and now you are coming in with a financing offer at 5c a share? I don’t even know how to describe that. It’s not a pump and dump, or a dump and pump … it’s certainly not a pump and hump (at least not in a nice way), so what is it? I don’t even have the linguistics for this situation.
Yesterday, if you were a shareholder and you had been made that offer when the stock price was trading a smidgin’ under 6c and basically offering in at 5.5c, you probably would have thought it passable as a financing premium. Today, it’s sort of like wandering down to visit your local dealer and finding out when you get home that you’ve been given a baggie of oregano (I am speaking strictly hypothetically here, I promise).
By the way, for all you shareholders out there who ridiculed me for my last post (as usual, the emails and comments streamed in thick and fast, because I was obviously “missing out on all the fun”), take careful heed of where you ended up today. “Your” company just made a compromising statement to the market in order to fluff the stock price, so that it can sell “your” company to others at 41% below the market price.
So “Foxtrot Oscar” to you too…
Photo cred : Telephone operators, 1952 (Creative Commons Attribution 2.0 Generic license).