When you are a major shareholder (MSH) in a Company, as Cairnglen has been at NAGs, then you are often in a position of being able to obtain shares at a discount to market, say 15% to maybe 20% below SP ... and obtain large volumes as well. This is a common way for small co's to raise capital and a good deal for both the co & the major shareholder.
NAGs is no longer a co which needs to raise funds, option conversions will meet any future cash raising needs. This means, NAGs no longer puts Cairnglen in a privilege position o f being able to buy discounted shares. The comparative advantage has been lost, so that is logical reason Cairnglen would offload NAGs in order to move funds to a new Co, where he can access discounts to market, as a MSH, the very thing he just lost a NAGs.
None of this applies to the average shareholder but it is probably a major factor for Cairnglen, easy & quick profits via Share Purchase Plans, and maybe gives a feeling of power & prestige to boot! This would explain Cairnglen selling. Makes sense to me but just my opnion.
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Last
2.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $16.72M |
Open | High | Low | Value | Volume |
2.2¢ | 2.4¢ | 2.0¢ | $45.94K | 2.164M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 555000 | 1.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.1¢ | 263615 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 555000 | 0.019 |
2 | 520000 | 0.018 |
1 | 600000 | 0.017 |
2 | 249562 | 0.016 |
3 | 599999 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.021 | 263615 | 2 |
0.022 | 1030001 | 2 |
0.024 | 150000 | 1 |
0.025 | 250000 | 3 |
0.026 | 560000 | 2 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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NAG (ASX) Chart |