Here is my letter today...... not happy Jan! After the long haul this Company has taken to get this far, to dilute the distributions and the stock when its at 63% of its audited NTA value is beyond me and if its to the Instos only, this will be a sham and shame on the Board.
Reads:
I have been listed as a top 20 shareholder shown as XXXXXXXXXX owning some XXXXXXXXX shares in this Company and up to today I have been very pleased with the policy and transparency of the Companies actions, but why you would choose to dilute the shareholders base with a NTA value of $1-36 when it is trading at 85 cents is beyond me! We have secure and affordable banking arrangements and stable cash flow and now paying dividends. It is only time before the market will re-rate this stock and we will be trading much closer to our true worth.
I am not at all pleased with this and find it unacceptable and unnecessary considering what these long term shareholders have already gone through. Dilution is not in the existing shareholders interest and if a Capital Raising must be undertaken ( and it is beyond me to understand why!) then it must be to a minimal amount and open equally to all shareholders, with options to over subscribe.
proposed cap raising, page-8
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Last
$2.61 |
Change
0.010(0.38%) |
Mkt cap ! $975.0M | |||
| Open | High | Low | Value | Volume |
| $2.65 | $2.65 | $2.60 | $838.6K | 320.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9641 | $2.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.62 | 155 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| CQE (ASX) Chart |