With the buy-backs going on, the risk for retail (and possibly the company) is that retail likely now hold less than 10% of shares. This poses two problems/issues for both parties.
Firstly, liquidity is fast drying up. With fewer retail holders, daily volumes are very low. A few low volume trades can produce large daily price volatility - mostly to the downside atm.
Secondly, ASX requirements require listed companies to maintain a minimum of 300 (non-associated) holders, with balances of >$2000. The last time I checked, we were at less than 1000 holders that meet this criteria. With the sp tanking and with buy-backs going on (primarily targetting these retail holders), how long before the company breaches these listing requirements?
What happens then? Delisting from the ASX?
Ann: Daily share buy-back notice - Appendix 3E, page-8
Add A1N (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
72.5¢ |
Change
0.005(0.69%) |
Mkt cap ! $226.9M | |||
| Open | High | Low | Value | Volume |
| 72.0¢ | 73.5¢ | 68.5¢ | $201.9K | 278.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8996 | 70.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 75.0¢ | 9732 | 1 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| A1N (ASX) Chart |