Yesterday I attended the A.G.M. of the WAM group of companies.
For those who are unaware, WAM companies are listed investment companies (LICs) & their business is to invest in other companies.
I have previously mentioned SMN to them & they were aware when the share price exploded from under 10 cents.
I had a discussion with the Chairman, Geoff Wilson & C.E.O., Chris Stott about the catalyst that should be the making of the company. That catalyst, of course, is the deal with Delta Airlines. A second catalyst would be the takeover of Anodyne which will give SMN a positive cash flow.
Chris said he would have another look at SMN as the company has progressed a long way since their last look.
Should WAM decide to invest in SMN, they usually buy about 5% of the company. That would mean they would be looking to buy in excess of 5.6 million shares.
I would imagine that would help the share price. Spending $8 to $10 million is not a major investment for them. Investments are usually spread over two or more of their companies. WAM Asset Management does the buying & spreads the shares over the different companies, depending on why the shares were bought & the size of the company.
The likely recipients of the shares would be WAM Capital (WAM), WAM Research (WAX) & WAM Microcap (WMI).
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Last
66.0¢ |
Change
0.030(4.76%) |
Mkt cap ! $90.65M |
Open | High | Low | Value | Volume |
65.0¢ | 75.0¢ | 65.0¢ | $173.5K | 255.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 16972 | 66.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
73.0¢ | 7500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 16972 | 0.660 |
2 | 37569 | 0.650 |
1 | 94000 | 0.640 |
1 | 5000 | 0.600 |
1 | 8000 | 0.580 |
Price($) | Vol. | No. |
---|---|---|
0.730 | 7500 | 1 |
0.740 | 5000 | 1 |
0.750 | 3088 | 1 |
0.800 | 60346 | 3 |
0.880 | 10000 | 1 |
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