No Trading Bank would take shares as security at that day's market price.
More likely they will take the 30 day vwap, discount it by 30-50% to cover themselves so that they can guarantee NC that they won't call up the loan.
(NOTE: most margin lenders (except cfd providers) would only lend say 40-50% on LYC, CS would be no different when determining value/risk).
NC then has a $2-3m Line of Credit to use as he sees fit...Note that the announcement states that UP TO 10m shares will be used.
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Last
$9.99 |
Change
0.270(2.78%) |
Mkt cap ! $9.345B | |||
| Open | High | Low | Value | Volume |
| $9.75 | $10.15 | $9.71 | $68.77M | 6.987M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 900 | $9.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.00 | 15550 | 7 |
View Market Depth
| Last trade - 16.10pm 18/07/2025 (20 minute delay) ? |
| LYC (ASX) Chart |