I do not follow Leni Gas & Oil (LGO) but I note that it got the Bulletin Boards buzzing last week. It announced a big acquisition and the next day a placing. This outraged some commentators. I think wrongly.
If a company places shares in a way that patently dilutes shareholders that is wrong, especially if the stock just goes to flippers or to “mates.” If a company says it is not issuing shares and then does that is also wrong and arguably Leni Gas sailed a little close to the wind on that secondary count as Ben Turney flagged up HERE
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