I don't believe that the situation is as dire or 'black and white' as some here would like it to be. If I may offer some less emotive, more rational perspective...
In fact, the target figure for the raise of $6.6 million is an absolute best-case scenario, it would involve every shareholder participating to their full entitlement (which was always very unlikely). Of course, the company is going to aim high when publicising the raise, especially in terms of what the funds will be used for, it's a marketing exercise after all, essentially the correct way to go about the task.
To date (approx one month into a 4-month raise) 38% of the total shares outstanding have participated in the offer, which is pretty good all things considered. Around $800,000 has been tipped in by the Board members and the other $1.7 million by other shareholders. Importantly there are now enough funds to complete the new test kit design via the CMO in North America, and as this progresses in the near term, it's sure to boost the share price.
It is quite conceivable that interested new and existing investors will be hedging their bets somewhat, and may well take up some of the shortfall now that they can see there has been a reasonable response in part, certainly enough to fund the all-important Colostat product refinement. Should the share price increase over the next 3 months as this work materialises, then the shortfall shares are likely to sell fairly easily, especially with regulatory applications the next step!
- Forums
- ASX - By Stock
- RHY
- Ann: Close of Rights Issue
Ann: Close of Rights Issue, page-8
-
-
- There are more pages in this discussion • 42 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RHY (ASX) to my watchlist
|
|||||
Last
6.7¢ |
Change
-0.003(4.29%) |
Mkt cap ! $16.65M |
Open | High | Low | Value | Volume |
6.5¢ | 6.7¢ | 6.5¢ | $4.616K | 70.97K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 38161 | 6.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.7¢ | 34326 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 238342 | 0.065 |
2 | 110864 | 0.064 |
1 | 131025 | 0.063 |
2 | 15000 | 0.062 |
3 | 59180 | 0.061 |
Price($) | Vol. | No. |
---|---|---|
0.065 | 993 | 1 |
0.068 | 1128 | 1 |
0.070 | 86753 | 4 |
0.071 | 150525 | 1 |
0.072 | 2245 | 1 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
Featured News
RHY (ASX) Chart |