Agree with your "opaque" remark. The announcement doesn't explain who the placement was made to, or what the circumstances were, such as a date.
As to why they made this placement when they were getting 20c a share from the Dubai types, I would guess that it was a desperate placement made before the larger raising, or that it was some sort of inducement to the participant in the larger raising.
It was a ridiculous price to issue at, if they had any room to manoeuvre, because the price only descended to 15c at intraday lows on 2 consecutive days. It never went below that, and there would have been very few shares that changed hands at that price.
The price is equal to the cheapest sale of the shares going back over more than 2 years.
The price of 15c would not be close to any discounted volume weighted average price calculation using price data drawn from a few weeks before the placement. They must have been desperate to settle at 15c, and that's the most benign explanation I can think of.
- Forums
- ASX - By Stock
- CTO
- small private placement....
small private placement...., page-2
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CTO (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.5M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2578260 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 7622493 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2578260 | 0.004 |
14 | 9787353 | 0.003 |
9 | 10895025 | 0.002 |
8 | 12702988 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 6646970 | 15 |
0.006 | 19646758 | 6 |
0.007 | 2263000 | 4 |
0.008 | 4593671 | 7 |
0.009 | 2370800 | 4 |
Last trade - 16.12pm 13/09/2024 (20 minute delay) ? |
Featured News
CTO (ASX) Chart |
Day chart unavailable
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online