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
1.2¢ |
Change
0.003(33.3%) |
Mkt cap ! $9.559M |
Open | High | Low | Value | Volume |
1.0¢ | 1.2¢ | 1.0¢ | $16.49K | 1.518M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 80000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 997750 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 80000 | 0.010 |
1 | 90000 | 0.009 |
3 | 468131 | 0.008 |
3 | 5751263 | 0.007 |
1 | 250000 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 997750 | 2 |
0.013 | 3155000 | 4 |
0.014 | 852000 | 2 |
0.016 | 219150 | 2 |
0.019 | 32600 | 1 |
Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
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