$15m cap raise Fresh Equities at 24c, page-783

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18/11/21

23:26

Post #: 57687872
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Originally posted by Upthefog: ↑

I think we can possibly discount the sugar run from $0.28 up to $0.35 as it was based on the now not happening partnership rumour & the SRP raise in the US. Arguably the EMA outcome was already factored in to the $0.28. The $0.24c capital raise is not too unreasonable in the scheme of the month prior to the run up. Falls to the CR level & below are similarly not uncommon. I don’t think there is anything underhanded - it simply reflects the reality of the company wanting Instos on the register. Whether there has since been insto manipulation or not - it the ASX after all!! If the CR was in fact mishandled (I’m not sure it was - given the co’s registry agenda) I doubt there is anything actionable. BTW good luck to anyone trying to prove anything either. Given we will all make money into the future I can’t see anyone initiating anything.

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The drop thus far isnt just due to the partnership rumour IMO. (Look at where SP was 26c @ Jan this year). A genuine Sarepta deal would inflate our SP far above 35c

Management decision to give existing shareholders (including instos) a second bite of the cherry with a future dated entitlement. Possibility of third top up for instos if retail opts out just incentivises instos to sell to keep the price below fair value of options + 0.24 rights issue

All just amplified the usual games of CR time and i think a poor decision at best in hindsight..

Hopefully things pick up quickly once the dust settles

ANP Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
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