Hello rdbest, good to see your hitting the right nerves.
There are many issues that are happening right before our eyes. Nobody is talking about these issues and they need to be highlighted.
The operation of the machine can be so odious, that the machanics between managers and the brokers can't make sense, no matter how hard you put your brain to the facts, it just don't add up, and you got to indicate to the people who run it, to the people who control it, that if you are not informed, then how are you ever going to know!
Now that gets to this very inportant point, from the recent General Meeting, the third motion was passed unequivocally:-
3.Approval of issue of share purchase plan shortfall shares. I for one voted against this, but so many in favour. Why? The share price was under the offer price. So why keep it open? Lets reflect on what happen. Of the 16 million plus shares, only 5,043,418 were taken up, leaving over 11 million more shares to be issued.
Neon can issue these new shares over the next 3 months at 0.30 cents to, you guessed it ""Institutional and sophisticated" investors. Don't you just love them?
So, to answer my question as to why the company wanted to keep this open, they must feel very confident that some good news flow will be released within the next 3 months, and that the share price will reflect the news and price to be higher than the capital raising. This will enable the company to generate more capital for future growth.
See the picture and solve the puzzle. * * *
* * *
* * *
Draw 4 straight lines, without taking the pen off.
Ha Ha Have fun
DYOR
Good luck
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