Just to clarify and for the benefit of others, if you want up to date figures for shares on issue:
* check the ASX website for the latest 3b ann. * cumulative total in clause 8 will include shares on issue including amount in that latest issue.
...so the total shares on issue for AZS seems relatively low of around 565.5 million.
* the capacity for future issue (without seeking shareholder approval) is also provided of around 65.2 million.
...so the remaining 65 million if issued at 7c seems to be $4.5mill but figures are not my strong point nor are the intricacies of cap raisings.
All I know is the last time one of my shares behaved in this odd way even after a very +ve ann, a CR was offered to sophisticated investors, and the SP was apparently held back by bots to keep the raising figure low for the benefit of the sophisticated investors. It puzzled some of us shareholders at the time. Then the ann and it all fell into place.
An offer to sophisticated investors without going back to shareholders could mean some in the market are already aware of such a deal.
Since there are so many projects on the boil, it would be great to have a JV instead of a big diluting CR as I'm sure like others, I'm not a fan of big CRs especially they involve later a consolidation because too many shares on issue. But the low SP since the ann suggests the market might knows something we do not. Others are saying that options are being exercised and sold into the market and this is keeping the SP low.
Please correct me if I'm wrong on any of this, and sorry about statements of the bleeding obvious. I am a LT holder not a trader and there is always something to learn. Not everyone is a trader and knows this elementary stuff.
cheers
DV
AZS Price at posting:
7.2¢ Sentiment: LT Buy Disclosure: Held
