You are exactly right. They are choosing the exact worst moment to announce this crap (if it is really true, I still can't believe it). Any other solution - a small working capital debt, a larger capital raising at a better point in time, even an agreement with MtK (which would have taken off the SP in the future) - is preferrable.
It seems that LYC mgmt is not behaving in the interest of its shareholders. Principal agent conflict at its best and I wonder if there is another agenda as no one can be as stupid as that. If this company is still floating in 6months time I hope that there will be some pressure to replace them at the next AGM.
$40 million spp and placement?, page-25
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Last
$6.06 |
Change
0.140(2.36%) |
Mkt cap ! $5.664B | |||
| Open | High | Low | Value | Volume |
| $6.02 | $6.12 | $5.97 | $11.52M | 1.904M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 12791 | $6.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.07 | 13019 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| LYC (ASX) Chart |