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I hate to make the manipulation call but perhaps gypaetus and...

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Catalyst444

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27/02/17

11:33

Post #: 22929350
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Originally posted by lollot ↑

Exactly.

The way I see it, the existing draw down equity facility contributed towards the maximum share placement capacity

Now on top of a 15% discount to WAP, they can also buy up to 170m shares at a fixed price of 2c without shareholder approval and without pushing the price up, thus defying usual market dynamics. Quite convenient really. (there are 170m options to convert, which will be mopped up by the underwriters if retail investors do not convert, and no retailer would convert if the options were not in the money).

The price will likely go up after 30 April. like @gypaetus I am almost convinced at this stage that they are happy for options to not be in the money so they go unexercised. They're obviously confident about the future prospects and it helps with cashflow, but that doesn't do much for retail option holders, who may end up with worthless options which will then be exercised by the sophos when the time is right. Sneaky really

CL8 main failure, which from memory was Chris' decision, was limiting the amount of funds raised in a placement a couple of years ago, which could have raised way more than it did, as CL8 was a hot stock then. The additional funds should have been used for more aggressive expansion, EVEN if resulting in a bit of wastage / overspending.

Instead, low funds available for years, anaemic growth and stagnant SP

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I hate to make the manipulation call but perhaps gypaetus and lollot might be on the money here. The Smartfleet connection without any information just doesn't make sense at the moment.

They keep mentioning if options where converted they would have 3mil plus in the bank but at the moment it is looking highly unlikely the share price will be anywhere near where it needs to be for most investors to pay up for the conversion

Hope im wrong

CL8 Price at posting: 1.8¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Last 1.2¢		Change 0.000(0.00%)		Mkt cap ! $3.22M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.2¢	$131	10.90K

Buyers (Bids)

No.	Vol.	Price($)
2	12946	1.2¢

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Price($)	Vol.	No.
1.3¢	25000	1

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No.	Vol.	Price($)
2	12946	0.012
2	740909	0.011
5	900000	0.010
1	120000	0.008
1	200000	0.007

Price($)	Vol.	No.
0.013	25000	1
0.014	983	1
0.015	50000	1
0.018	848000	2
0.019	505399	2

Last trade - 12.09pm 28/06/2024 (20 minute delay)

CL8 (ASX) Chart

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