General Discussion / Social Media, page-1446

chaddy,

""Current price of 20.5 to 21 cents is just over a 15% premium on capital raising which was over subscribed .Would seem to be an opportune time to get in.""

I don't want to be too critical of Management because collectively I think they have done a great job in recent times.
But given the share price closed at 27c on the 19th of Sept and still closed at 27.5c on the 11th of Oct, having closed 30c in between these dates
on very big volume, I reckon they sold themselves and their shareholders short by giving away the placement stock too cheaply at 18c.
Given that it was also over subscribed would suggest to me also that 21c minimum would still have been more then generous. No doubt it was oversubscibed given the discount that they were offering stock. Plenty of current shareholders would have paid 30% higher then where it currently sits and are now looking at reasonable losses. Seems like the poor shareholder is always getting whacked for supporting their company and buying more shares at the higher levels only then to see stock given away at much lower levels. All well and good to say everyone could have bought more at these lower levels but not everyone has a bucket full of money that they can draw upon to now buy cheaper stock.
Management have now created extra pressure on themselves and the current share price is reflective of that. Their pain is lessened of course by the fact they are all being paid an income in the mean time. The same cannot be said for the many shareholders who are now looking at their port folio values being substantially less..

Sometimes companies seem to be more concerned with looking after the bigger boys then the little shareholders. No one is suggesting that you can't look after the instos but you don't have to give it away 30 to 40% cheaper and then tell the world it was heavily oversubscribed.

The ASX is having one of it's stronger days, and yet here we are under pressure again. Lets just hope good news is not too far away. Those instos generally don't like to lose money.

Just my thoughts.