losing $$$$ doesn't bring out the worst in me, having to tolerate stupidity does!
What the hell were management thinking pricing the SPP so low and with such a crazy option structure. 2.5c was already stupidly low but to add 3.5c options was a real kick in the guts and then bonus options on top! WTF
We'd survived the Ferro case, we were in a very positive uptrend, many were buying around 4c. We had renewed enthusiasm for the stock....
then wham!!!!!
Hit with this stupidly underpriced placement which every man and his dog could see was going to kill the SP.
The SPP has taken ~50% off the SP
$40m wiped off the market cap in order to bring in $5m
I'm surprised Anteo are even calling to see if shareholders are participating in the SPP. I thought the answer would be obvious???
You won't find one person who thinks this placement was managed well
Understandably it's caused tensions to run very high in here
and it's also pissed off the only broker who gave us positive coverage, who also happens to be mates with Australia's biggest clean energy investor
ADO Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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