'A $3 million loan is 10% of the company value. A couple more of those and he's up to 50-60% of the company'
There is still one year to convert the loan into equity. If the share price doubles, 3 million will be 5% of the market cap. The MD wants to have a higher ownership, so the company won't be a hostile takeover and he would have a higher bargaining power IMO
Looking at the changes in his position:
He spent $300k converting his 20c options
He spent $2,030,000 buying shares at 16.5c.
He uses every opportunity to increase his holding. He may even start buying on market again?
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Last
5.1¢ |
Change
-0.002(3.77%) |
Mkt cap ! $20.03M |
Open | High | Low | Value | Volume |
5.3¢ | 5.3¢ | 5.0¢ | $25.20K | 489.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19576 | 5.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19576 | 0.051 |
6 | 230867 | 0.050 |
2 | 350000 | 0.049 |
3 | 115522 | 0.048 |
2 | 320000 | 0.047 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 20000 | 1 |
0.059 | 14000 | 1 |
0.060 | 261365 | 4 |
0.062 | 2487 | 1 |
0.066 | 12000 | 1 |
Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
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