I would sit back and see how this plays out unless you want shares. This is likely the last time you will get a chance at this price (19c) because the monkey will be off our back.
In a previous CR, it was over subscribed and the company took up the additional offered cash.
They can (should they choose) issue more shares as a result of a resolution at the AGM:
RESOLUTION – APPROVAL OF ADDITIONAL 10% CAPACITY
Broadly speaking, and subject to a number of exceptions, Listing Rule 7.1 limits the amount of equity securities that a listed company can issue without the approval of its shareholders over any 12 month period to 15% of the fully paid ordinary securities it had on issue at the start of that period.
Under Listing Rule 7.1A, however, an eligible entity can seek approval from its members, by way of a special resolution passed at its annual general meeting, to increase this 15% limit by an extra 10% to 25%.
I think they will comfortably get what they seek and more. If it is not enough to run the full trial, it will sure be enough to enable the company to operate and at a time where they are not under pressure and the SP is much higher, tap in for a quick further cash grab (If it is even needed)
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Last
19.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $92.46M |
Open | High | Low | Value | Volume |
19.0¢ | 19.0¢ | 18.5¢ | $131.7K | 693.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 182676 | 18.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
19.0¢ | 25985 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 182676 | 0.185 |
9 | 512857 | 0.180 |
9 | 381473 | 0.175 |
9 | 181233 | 0.170 |
7 | 121416 | 0.165 |
Price($) | Vol. | No. |
---|---|---|
0.190 | 26000 | 2 |
0.195 | 74195 | 3 |
0.200 | 174195 | 3 |
0.205 | 88150 | 4 |
0.210 | 257455 | 6 |
Last trade - 11.08am 02/10/2024 (20 minute delay) ? |
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