No. It means for every 1000 shares you get, you are 'offered' to buy another 615 shares for 0.02c. Of course with these 615 shares you get a FREE option. (not the penoc option you are used to...but one that is dates 2018, with an exercise price at 5c)
IMO up until this is done and dusted, the market will view these PENOD's as useless.
It's not pretty on the surface. But keep asking and digging and you'll see how good this is at the end of the rainbow.
The rights trading will start soon enough and I think this will be the blow that sends sentiment racing (down) and also heads might find another bottom.
Cheers
Gav
Retail entitlement offer., page-2
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Last
11.5¢ |
Change
0.005(4.55%) |
Mkt cap ! $366.3M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.5¢ | 10.5¢ | $2.185M | 19.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1892350 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 3719 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PEN (ASX) Chart |