Canamax Energy Ltd DTEYF

Questionable thinking - Sinking

[Newsy99]

Adair has not necessarily transferred anything out of his name.

A Code 90 denotes a "change in the nature of ownership" which is simply a change between (i) direct to (ii) indirect to (iii) control or direction. (i.e in any direction) .What should be important to investors is the net number of shares held, and the net cash paid into the company. 

He will very likely have shares subject to lock up (4 months from the last two tranches), and shares which he has acquired which can be freely traded. 

According to Bloomberg his current holding in the company is 4.8mm shares. 
The value, no matter how you look at it is peanuts. (Given the wealth he has from other ventures)

If people believe that Adairs re*****tion is only worth the quick gain of 210k perhaps passing makes sense, until the company provides a better picture as to where they are heading