The 25% sale of LH is a hobby-horse of mine as i feel interests of loyal holders have been dudded by this deal. I don't feel it's a case of .. 'well it's done now and we must move on/forget about it'. I believe the ramifications of this very poor transaction will stay with PDN for many years to come.
Right now there is another potentially serious matter to consider. My reading is the buyer from China has not yet handed over the $190m. He/she must be aghast with to turn of events since deal was announced. On day of deal ann 20/01 SP closed at 56.5c after intra-day peak of 65.5c. Vol (an off the scale) 42m. Today's SP 42c. It needs to gain 34.5% to match prev price.
This wasn't 'supposed to happen'. The sale was forecast by many to engender a big shot of confidence into PDN and its SP. It's quite possible Chinese now want to re-negotiate the deal as Mr Mkt now values PDN at substantial discount to one month ago. What would an announcement along this line do to SP?
sale of the century, page-46
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Last
$13.99 |
Change
0.010(0.07%) |
Mkt cap ! $4.182B | |||
| Open | High | Low | Value | Volume |
| $13.78 | $14.02 | $13.62 | $27.61M | 1.999M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 198 | $13.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.00 | 5278 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |