I wonder whether BLG will keep extending the SPP hopping the share price rises above $1.55 and the SPP raises $25m.
They kept doing this a few years ago - Oct/Nov 2021 I think. I remember in 2021 BGL kept saying the directors have applied to buy shares through the SPP even though the share price was below the SPP price. Eventually the BGL share price rose above the SPP price, and the SPP raised the money they were seeking.
Interestingly, BGL directors have again indicated their intentions to buy up to $30,000 through the SPP (see above announcement). II suspect BGL will again keep extending the closing date for the SPP hoping the share price will recover over time.
Ann: Letter to shareholders regarding Share Purchase Plan Offer, page-8
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