hi,
can someone please explain what on earth is going on with this company please?
i'll try keep things simple, from what I understand RSG have lent them a lot of money ($85 million). in return NMG must pay coupon payments semi-annually of 7 or 8% ti=o RSG and RSG will have a heap of shares issued to them in 3 years time at 12c per share.
why on earth is the company still only trading around 6.3c??? surely if you effectively do a massive placement which almost doubles the size of the company at double the price it should goes up heaps? Do RSG have the choice between taking the shares in 3 years time or asking for the money back from the loan??? is that the problem??
what have i missed??? It looks like one of the directors Tunku Naquiyuddin has invested at 12c because he's paid $48,000 for 400,000 shares based of friday's announcement.
I don't think stock is dual listed, but if anyone has the bloomberg app, check code 59Y:GR. it went up 35% on friday. where the hell it's lised, i dunno?
there was rumours on hotcopper that RSG where trying to force down price from 10c to 6c so they could get the shares issued at a cheaper price. to be honest, that made sense, however now it's clear that hasn't happened so why this company it's going back up toward 12c I don't follow???
please help!
ta
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Last
$1.09 |
Change
0.010(0.93%) |
Mkt cap ! $327.0M |
Open | High | Low | Value | Volume |
$1.09 | $1.10 | $1.08 | $110.7K | 102.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
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View Market Depth
No. | Vol. | Price($) |
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2 | 32821 | 1.085 |
1 | 10491 | 1.075 |
5 | 81218 | 1.070 |
1 | 9390 | 1.065 |
2 | 22000 | 1.060 |
Price($) | Vol. | No. |
---|---|---|
1.105 | 15000 | 1 |
1.110 | 7000 | 1 |
1.120 | 11897 | 2 |
1.150 | 5000 | 1 |
1.170 | 13076 | 1 |
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