The real dilution comes from the 115 million new shares placed at a 12.9% discount to institutions as at announcement date, which was 21 June. The SP has dipped accordingly to price this in since it was announced. We’re already trading 2 cents below the new issue price. Here we have some (arguably) comparatively minor additional dilution - an extra 4.1 million more shares into the mix than originally expected - because the board has increased the number of SPP shares (available to existing shareholders) and not scaled back.
Ann: Completion of Share Purchase Plan, page-6
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31.0¢ |
Change
0.020(6.90%) |
Mkt cap ! $450.9M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 31.5¢ | 29.0¢ | $1.805M | 5.903M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 193400 | 30.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 1000 | 1 |
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| IMM (ASX) Chart |