At this stage we have a buyer at 56 cents & sellers from 58 cents to 60 cents so who is going to exercise the rights & pay 60 cents when there are some shares available for less & no buyers over 56 cents?
This capital raising has become a complete farce & poorly thought out.
The options should have been free & attached to the rights.
In October when SMN had a trading halt before announcing the cap. raise the share price closed at 97 cents.
As I have mentioned previously, all they had to do was have a rights issue at $1.00 & attach a free option to be exercised at any time within the following 2 years at $1.00 & there would have had shareholders clamouring for more. Instead we have nobody buying at 60 cents & some poor souls might pay 10 cents for the options to be exercised at 90 cents.
I hope I have an opportunity at the online A.G.M. to be able to explore the directors thinking & who advised them.
I just noticed some transactions going through at 58.5 cents.
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Last
58.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $79.66M |
Open | High | Low | Value | Volume |
57.0¢ | 59.5¢ | 57.0¢ | $39.10K | 67.46K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 56.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
63.0¢ | 6837 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 0.565 |
1 | 8928 | 0.560 |
1 | 9009 | 0.555 |
1 | 5000 | 0.550 |
2 | 10097 | 0.545 |
Price($) | Vol. | No. |
---|---|---|
0.630 | 6837 | 1 |
0.650 | 9109 | 1 |
0.690 | 6000 | 1 |
0.705 | 10000 | 1 |
0.715 | 12121 | 1 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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