On 29th May SRL sold 41.15 million SARL shares in advance of the restructure.
Sale proceeds to be used to recapitalized SRL and reduce debt.
This sale reduces SRLs holding in SARL from 51% to 47.1%. Presumably the restructure will result in SRL shareholders being issued less shares in SARL, but their shares in SRL will be worth more because SRL will be better capitalized.
Was this a fair move? It was not put to shareholder vote!
SRL's good CEO Milan Jerkovich moves to become SARL's CEO as part of the restructure.
Where does this leave SRL?
srl sold 41.15 million sarl b4 restructure
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Last
53.0¢ |
Change
-0.050(8.62%) |
Mkt cap ! $47.82M | |||
| Open | High | Low | Value | Volume |
| 54.0¢ | 55.0¢ | 51.0¢ | $26.95K | 51.16K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1340 | 52.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 53.0¢ | 956 | 2 |
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| Last trade - 14.06pm 12/07/2024 (20 minute delay) ? |
| SRL (ASX) Chart |