Not sure I would be wanting a suspension just for the sake of ' clearing ' bids and offers. Namely because after specifically requesting the ' back to back ' trading halts , it wouldn't look good in the eyes of the ASX......and very unprofessional in my opinion.
Given the raising was a significant resolution in the recent general meeting , I would think it pretty much already sorted from back then , and was only a matter of time in finalizing the finer details. After all , the meeting was concluded 3 weeks ago now.
The stock price has has significant momentum since then and has well and truly cleared the convertible loan shares by a significant multiple of the turnover. This fact together with the need for any new placement shares and their holders to deliver what they would consider an ' equal ' and opposite return would indicate the SP may find unexpected support moving forward.
There is also the fact that whatever the outcome , the company may also be the recipient of upwards of $10 million in working capital. So there is obviously the ' enterprise ' value to consider here in offsetting the dilution. On top of this , we may even see a ' Forwards ' looking rights issue ' tranche 2 ' component like we have often been seeing in capital raises lately - which would also provide the intermittent ' Pump ' which would see the momentum continue along in well planned stages. My opinions and observations only. Lets hope it goes well for ALL.
CRO Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)