I don't understand why they made this decision, what's the point of giving away shares for free when you need the money?
The only reason that comes up to my mind is that with the in specie distribution every holder gets some ITech shares right? So all the management, having axe shares, gets directly free shares that can sell and make an instant profit without having to worry about disclosing any information.
Greg English has 8997618 shares = 400k in itech sharesMohammad has 2600000 shares = 115k
They can do whatever they want, it just looks silly to do a SPP just after doing an in specie distribution
Ann: $15m successfully raised via an institutional placement, page-48
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Last
45.5¢ |
Change
-0.005(1.09%) |
Mkt cap ! $115.9M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $46.58K | 101.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 104003 | 45.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 44670 | 1 |
View Market Depth
| Last trade - 15.28pm 09/05/2024 (20 minute delay) ? |
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Last
45.0¢ |
Change
-0.005 ( 2.09 %) |
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| Open | High | Low | Volume | ||
| 46.5¢ | 47.0¢ | 45.0¢ | 40450 | ||
| Last updated 15.56pm 09/05/2024 ? | |||||
| AXE (ASX) Chart |