"Citigold Corporation Limited ... is pleased to announce an offer of new fully paid shares under a Share Purchase Plan("SPP") to all of the Company?s eligible shareholders registered at 7pm Brisbane time on 27 January 2010.
Under the SPP shareholders will each be entitled to apply for up to $15,000 of ordinary new shares at a discount to the market without incurring brokerage or other transaction costs."
My comment:
As this was announced yesterday after trade closed CTO is effectively trading today ex entitlement to a $15,000 per person non renounceable issue. Hmmnnn...
This seems to raise a few issues such as potential buying demand today, not knowing how many more "cheap" CTO shares will be issued ...
CTO Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)