If it does trade at its NTA then its a bargain right now...
Im not so upset at being asked to tip more money in for a bargain, as long as the train isn't being steered by incompetents.
Tell you what though, if I take up the full rights issue, which I probably will, Ill be rather fully committed to this one.
Doing the rough sp math.. my current avg is about $1.40... Ill be tipping in say 0.70 for $2.10 / 2 = $1.05 / share. Reading the rules, I am allowed to subscribe for more than my allotment so I could really buy cheap cheap... I wonder what the ceiling would be...
I cant seem to understand what the rights issue is for non-owners. The entry price is $1.25 for the current share + 0.60-0.75 for the rights issued share? Is that correct? That would make a base share price of 0.93c - $1.00.
Now, if I were not a shareholder today, but wanted to invest, what would I do? Buy 100 shares @ 1.25, and then oversubscribe to the rights issue?
I might study the rules a little closer.... isnt clear to me at first blush.
What seems to be clear (heh.. the irony) though is, Im still looking at a margin of safety of 50% - if NTA of $2.06 is correct and Im in @ $1.05. Im just annoyed at how I arrived here - too many surprises in what is supposed to be a solid foundation stock.
Lastly, Michael O'Brien is by all accounts very capable - long termer there - I never knew too much about Nic Lyons... but I had always heard good things about Michael.
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$5.05 |
Change
-0.020(0.39%) |
Mkt cap ! $9.711B |
Open | High | Low | Value | Volume |
$5.05 | $5.08 | $5.05 | $3.669M | 725.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
37 | 23822 | $5.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.06 | 32895 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
61 | 45392 | 5.050 |
31 | 97579 | 5.040 |
18 | 58693 | 5.030 |
13 | 40347 | 5.020 |
5 | 10413 | 5.010 |
Price($) | Vol. | No. |
---|---|---|
5.060 | 35045 | 25 |
5.070 | 56694 | 31 |
5.080 | 92427 | 19 |
5.090 | 58237 | 12 |
5.100 | 43420 | 12 |
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