CLE cyclone metals limited

7.58%

7.1¢

Ann: Results of Fully Underwritten Rights Issue Offer, page-11

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Carbondriver

1,613 Posts.

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09/12/24

16:01

Post #: 76972069
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Originally posted by That Fundamental Guy: ↑

A couple of reasons why I think the underwriter might hold on to a substantial number of shares for while.

Firstly, if the underwriter wanted as little exposure to any shortfall as possible, then the underwriter would want to see shareholders able to acquire more than there allocation. If they wanted to have exposure to shares, then they would want to restrict shareholders from acquiring more than there allocation. In this case, only shareholders with an unmarketable parcel (usually less than $500) could apply for more than their pro rata allocation. This indicates to me that the underwriter wanted a reasonable allocation of shares.

Secondly, from a quick review of the change in director interest notices, it appears that all directors took their full allocation. Whilst a number of the directors did not have many shares to begin with and therefore could not contribute substantially, Tony Sage acquired an additional 30,568,770 shares at a cost of $489,100 - a substantial vote of confidence in the future and would encourage the underwriter to hang on to a substantial number of shares.

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TFG, exactly, TS paid that out of his own pocket and if anyone thinks he is a seller they obviously aren't thinking straight. The MOU once signed is a huge positive for the company and unless Vale blows a dam somewhere I don't see any reason to not think they won't proceed.

No doubt other big fish are in the wings watching for opportunity.

CLE Price at posting: 2.4¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 7.1¢		Change 0.005(7.58%)		Mkt cap ! $78.20M

Open	High	Low	Value	Volume
6.8¢	7.4¢	6.7¢	$620.7K	8.762M

Buyers (Bids)

No.	Vol.	Price($)
3	305040	7.1¢

Sellers (Offers)

Price($)	Vol.	No.
7.3¢	265763	3

View Market Depth

No.	Vol.	Price($)
3	305040	0.071
3	153885	0.070
2	300000	0.069
3	317426	0.068
2	859698	0.067

Price($)	Vol.	No.
0.073	265763	3
0.074	200000	2
0.075	349253	3
0.079	8500	1
0.080	16000	2

Last trade - 16.10pm 25/07/2025 (20 minute delay)

CLE (ASX) Chart

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