I think Shelcomm is closer to the point.
BF you need to stop thinking like a mum & dad trader/investor & think like an insto.
If the seller wanted out (& was a mum & dad), your only course is ASX & BF thinking has some merit.
However, this is not a mum & dad seller
They (seller) didn't wake up on the 22nd Dec & say.. you know what I need to sell 2M shares today, who will I sell to?
If I sell on Marker it will drive the price down. This was the best price the seller could get & also the best price the buyer was prepared to pay.
DD, Vwap, OC expiry, & a host of other factors would have been in play for that price by the purchaser.
Who is carrying the risk here the buyer or the seller?WOuld you lay a lazy $2M+ on the table, with no expectation of upside (ie hope)
Obviously buyer sees upside from here & wanted to get in but couldn't buy a position they wanted to take up without moving the price .
(Us pleb investors don't move the dial & are insignificant inthe scheme of things ----despite what we think)
No Oc's here now. Where do you get a meaningful stake now..(don't think mum & dad, think percentage of Company). A 2m buy on market would put the share price where?
Seller may have met their expectations for profit. The seller may be replacing those share with converted oc's & if they didn'tsell may put them above their policy for risk in an entity. Could be any host or reasons
NAB nominees the holder on the ASX listed stoc may be building a stake to give sufficient stock to Mellon Bank for the upcoming NYSE listing.
There are a number of plays going on in the back ground that we at retail are not aware of & become clear after the fact.
I would see if as positive. If they were a seller & it was on the nose, how many buyer would be willing to lay down that coin. Would agree if they were selling on market as any price to exit.
See EDGAR lots of a ha's there.
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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($) | Vol. | No. |
---|---|---|
11.5¢ | 3719 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 1698145 | 0.110 |
23 | 4122795 | 0.105 |
80 | 10496953 | 0.100 |
7 | 578212 | 0.099 |
11 | 439690 | 0.098 |
Price($) | Vol. | No. |
---|---|---|
0.120 | 7358657 | 62 |
0.125 | 2837667 | 21 |
0.130 | 2916575 | 18 |
0.135 | 2065362 | 13 |
0.140 | 1029542 | 12 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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