G'day Apse,
Dubious practice indeed !!
I have been investing in this sector for around 28 years now.
I have been through many in-specie processes and many other unmarketable buy-backs.
NEVER have I not had the chance to turn down the offer (to sell the shares).
I originally had Marindi shares which had lost me about 70% of my initial stake and so was quite reticent about buying FRB and that this spin-off would go anywhere and hence didn't pay much attention to the small print.
I have spoken to a director since my initial post.
I'm informed they spend a fortune on lawyers so this is all above board.
Nobody knows how this buy-back arrangement got in there.
One thing I mentioned is that I don't understand how FRB is doing so well now, so how come this project wasn't priced into Firefly's price beforehand.
We all live and learn.
Cheers
Fletch
IPO - Firebird Metals Limited - 19 March 2021 #, page-66
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Last
10.0¢ |
Change
-0.005(4.76%) |
Mkt cap ! $14.23M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $5.33K | 52.43K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3956 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 2700 | 1 |
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| Last trade - 15.02pm 15/11/2024 (20 minute delay) ? |
| FRB (ASX) Chart |