No surprise but this closed in a few hours heavily over subscribed. Halt lifted Tuesday. Expect formal announcements then to confirm all the detail.
It’s worth highlighting how LKE traded post a similar announcement.
On 28.7.21 they announced free options to holders. The SP closed at 40.5c.
In less than two weeks the SP closed at 66c - that’s a 63% return. During that time there were no price sensitive announcements. I haven’t spent any time seeing how it performed comparatively but that’s a large gain and I’d dare say it outperformed like for like competitors. Since that time it’s given back some gains but remains ~20% higher.
Now LKE is a different company and the broader market will affect trading but it’s a useful proxy.
Looking forward to seeing how this trades. Well done management.
ASN Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
