Hi @Wineman71,
I am not sure I agree with you that "the major shareholders are not particularly happy" is the logical conclusion to be drawn from the demonstrably undersubscribed recent non-renounceable share offer.
I would posit that the great majority of shareholders, major and minor alike, have taken appropriate SFX shareholding positions within their portfolios to date. In the last 5 years with a trading price range as high as $1.14 (Sept 2018) to lows of $0.08 (Mar 2020) and back up to $0.50 now there have been plenty of opportunities for shareholders to top up and get to a shareholding consistent with their respective investment and risk appetites.
In short my conclusion would be "the majority of shareholders have taken their positions and look forward to the share price rerating as we approach TB commissioning".
FWIW I took up on the offer.
Cheers
-DGT
Ann: Non-Renounceable Entitlement Offer Results, page-3
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31.0¢ |
Change
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Mkt cap ! $121.8M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 32.0¢ | 30.0¢ | $169.5K | 538.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2833 | 30.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 69093 | 2 |
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