Interesting to see how ALC dealt with a massive oversubscription to their SPP today. Over 1,900 applications totalling approx $30 m, well, well in excess of the company’s target of $2.5 m..
The Board increased the offer to $3.0 m and scaled back SPP applications.by
. Most apps receiving a min basic entitlement of 3,125SPP ( worth $1,000 at issue price)
.any remaining SPP to be allocated on a pro rata basis based on the size of the applicant’s holding at record date.
However, (here’s the clincher),applicants who sold shares between the record date aGoggond the SPP closing date are to receive ZERO allocation.
If ADO have a similar massive oversubscription the ALC template might be attractive to the ADO Board.
SP . Price movement, page-1543
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2.0¢ |
Change
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Mkt cap ! $49.36M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 2.0¢ | $33.18K | 1.658M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 2717347 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 723484 | 6 |
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| ADO (ASX) Chart |