With 2,168 shareholders with a less than a marketable parcel (worth less than $500), any share purchase plan (up to $15k) could create a decent overhang and any rights issue could create a high admin cost. Imagine sending out 2,168 booklets offering them rights to subscribe 1 for 5 so they can increase their holding from say $250 to $300 without brokerage.
With 2,168 shareholders with a less than a marketable parcel...
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Mkt cap ! $319.3K | |||
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