I think you are a bit harsh on that 60% of shareholders. What if they hold just 1 or 2 k shares; hardly worth selling that lot and then get their allotment. Or they hold 200,000 sell 25000 and ask for 25000 in the SPP? What then if you get pared back?
I can understand a lot of shareholders just want to have their investment and hope that management give their investment a good run. I have taken up the opportunity and now I am just hoping that no calamity hits the sharemarket or this company.
It appears to me that this may be a more serious contender in this sector and may benefit from a change in sentiment. But while commodities are on the rampage most speculative money will be there.
W2
AVX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held