This was posted on the LGDI board Agoracom says he is buying yet Phosphate King on the LGDI board shows he may in fact be selling can someone explain who is right and who is wrong?
If you read the prospectus that legend issued on September 30th, 2008 you will note that Legend is assisting with the sale of ordinary shares held by current stockholders, ie: no money is being raised by Legend. The prospectus can be found here:
http://www.lgdi.net/images/docs/2100...
The parties offering the shares include the following (on page 14).
Soros - Quantum Partners LDC have 2,051,930 shares, and they are selling 1,946,430 of them.
Soros - Quantum Emea Fund has 7,762,500 shares, and they are selling all of them.
At this rate Soros is actually liquidating his holdings in LGDI.
It is time for a company representative to tell us the real story behind what is currently going on.
As Benjamin Franklin said house guests and fish both begin to smell after three days. This stock is beginning to pick up that aroma
