There’s probably more imminent US news to come than we’re aware of.
This announcement specifically says that the SPP is 'not an offer in the United States'. To me that is usual. Why mention them at all? The usual thing to say is something like this offer is only available to shareholders who are residents of Australia and New Zealand – and that's it. If you are going to specially mention a region then shouldn't you in this case mention the Ro Korea or Japan where our other patents are protected? Therefore, we can only speculate that the US interest is overwhelming and for whatever reason management felt that they needed to state the obvious.
Furthermore, the SPP states that they will scale back as they see fit, including looking at the size of holdings and when shares were sold or purchased prior to the offer. The hidden messaging here is that it is quite likely a requirement of the ASX regulatory body is that Archer do what it can to 'spread the wealth'. As stated in the recent accounts, only 75% of holders have less than 10,000 shares. Concentration of wealth is a not a good thing if the expected potential we all believe Archer has, is somehow imminent.
Nevertheless, confidence signals for all holders. Exciting times!
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