I hope the SPP still proceeds as token of equity for existing shareholders and that they clearly state that existing shareholders may prefer to buy on market if the SP is below 65c. That may encourage people to buy on market and fill the gap. Of course they should clarify that they don't need further funds via the SPP.
If they do need further funds, they will need to provide a carrot for the SPP to work.
At the current rate of SP decline, we may get caught in the EOFY tax loss selling. 45%+ loss for the year may be tempting for some.
Someone/thing has been driving the SP down for reasons known only to them. Perhaps they are US "market makers"! With recent news and new funding arrangements, I would have thought DYE was more a buy than a sell.
At current SP, I regret not having just kept my money in a term deposit for the past few years and just buying on market below 60c.
GSL Price at posting:
56.0¢ Sentiment: LT Buy Disclosure: Held
