It is my opinion that MBL is NOT buying shares on market.
I am not sure if they are allowed to under a formal S of A.
BUT
for a start, irrespective of whether the T/o is by way of a Scheme or a T/O, MBL must still comply with the ASX Listing Rules.
Which mean that IF MBL were acquiring shares on market, then IF they go through the 5% s/h level, then they must lodge a Substantial Shareholder Notice. They have 3 business days to do that.
And they have not done that!
So there are 433m Ords.
5% is 21.5m less 10m MBL already hold.
So all they "could" (if they were allowed to) acquire onmarket is 11.5m - before they need to lodge that Sub S/H Notice.
How many have gone through at 20c since the Scheme was announced?
Usually this type of on-market purchasing is opportunistic Hedge-type funds buying on hope of a higher bid, or 3rd party bidder.
just all imho
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Last
5.5¢ |
Change
0.005(10.0%) |
Mkt cap ! $40.70M |
Open | High | Low | Value | Volume |
5.0¢ | 5.5¢ | 5.0¢ | $514.4K | 10.27M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 631107 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.5¢ | 98568 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 631107 | 0.053 |
1 | 1270000 | 0.052 |
1 | 720712 | 0.051 |
1 | 3000000 | 0.050 |
2 | 309657 | 0.049 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 98568 | 1 |
0.056 | 20000 | 1 |
0.057 | 132936 | 1 |
0.058 | 172431 | 1 |
0.060 | 90909 | 1 |
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