I would like to highlight something that just cross my mind.
We all have been talking about that frustrating 6 months we are having, especially since the merger date of 20/7/2017. We have also note that there are sellers in the market, notably the Argentinian party who has just let go the 6.425m shares at 45c; perhaps from those who took the placement at 64c last year taking profit; or traders and shorters in the game and the conspiracy theory on the "invisible hands" who is pressing the price down to collect more...
I was wondering what RSL Investments Corp is thinking after acquiring 28% of the company at 85c and now the price is sitting at 54c. Why can't they tighten the registry more? The reason is none other than the Takeover Provisions in Chapter 6 of the Corporation Act.
http://www.takeovers.gov.au/content...mmary_of_takeover_provisions_in_australia.htm
However, in item 9 of s611, RSL is allow:
From 20 January 2018 onwards, there will be a potential buying force from our biggest shareholder to acquire about 11m shares from the market within the 6 months that follow. I think it is now starting to show some strength in the charts in anticipation of this.
- acquisitions of no more than 3% in every 6 months (the 3% "creep" exception in item 9 of s611)
Chart, page-2467
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Last
11.5¢ |
Change
-0.005(4.17%) |
Mkt cap ! $124.3M |
Open | High | Low | Value | Volume |
12.0¢ | 12.0¢ | 11.5¢ | $14.26K | 123.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 46663 | 11.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 31271 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 46663 | 0.115 |
5 | 291167 | 0.110 |
2 | 240000 | 0.100 |
2 | 15111 | 0.099 |
1 | 5265 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 31271 | 1 |
0.130 | 121703 | 4 |
0.135 | 60000 | 1 |
0.140 | 56092 | 3 |
0.145 | 120000 | 3 |
Last trade - 14.33pm 18/07/2024 (20 minute delay) ? |
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