This cap raising is diabolical on several fronts and raises questions around whether the Board is acting in the full interests of the shareholders:
- The company has been trading without any real price volatility at a level well above the raising price
- The cap raising is not a large amount relative to the scale of the company and is not an emergency raising
On these two score alone, a >40% discount is well outside market/what one would normally expect.
Given it was not a large raising, why didn't the Board offer it to shareholders first as a rights/entitlement offer? If the Board was concerned about raising the full amount, it could have had the rights issue underwritten.
I would like to understand how much the Board members will be subscribing for as part of the Tranche 2 placement - will it be above the max $30k each shareholder is entitled to under the SPP (which could/will be subject to scale back)? The Board may suggest that they were seeking to demonstrate 'alignment' by taking up a portion of the placement but they could have done this by stating that they would each take up the max. entitlement under the SPP.
I will be voting against the Rem Report and against approval for the Board members to take up a share of the placement. I hope that other concerned shareholders do the same
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PEK
peak rare earths limited
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33.0¢

Ann: Trading Halt, page-49
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Last
33.0¢ |
Change
0.005(1.54%) |
Mkt cap ! $142.0M |
Open | High | Low | Value | Volume |
32.5¢ | 33.0¢ | 32.5¢ | $228.2K | 694.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 2097358 | 32.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.0¢ | 1568731 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 2097358 | 0.325 |
7 | 893200 | 0.320 |
4 | 371187 | 0.315 |
4 | 612528 | 0.310 |
5 | 199590 | 0.305 |
Price($) | Vol. | No. |
---|---|---|
0.330 | 1568731 | 14 |
0.335 | 578205 | 11 |
0.340 | 206493 | 6 |
0.345 | 265000 | 5 |
0.350 | 388348 | 8 |
Last trade - 16.10pm 28/07/2025 (20 minute delay) ? |
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PEK (ASX) Chart |