We now have an explanation for the drop in share price .
Kerogen and OCP forcing a huge pro-rata rights issue and an offer which is effectively impossible to refuse of sub-underwriting the rights issue .
Gradually squeezing the life out of it as they tighten their stranglehold .
They've clearly managed to drop the SP 40% to ensure it is as dilutive as possible . Is a (pro-rata) rights issue subject to the ASX's 15%/25% limit or would shareholder approval be required to issue more equity than this ?
A.J. Lucas management no longer have the freedom to manage the company in the interests of all shareholders . The creditors must have a charge over the assets and thus Cuadrilla couldn't sell down their interest in Cuadrilla if they wanted .
Once they pay back Kerogen , they will benefit very little from the rights issue . Cuadrilla is not going to become self sustaining any time soon so what is to stop the company going through this again in 12 months time ?
Lucas are no longer in control of their own destiny .
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Last
1.0¢ |
Change
0.001(11.1%) |
Mkt cap ! $13.75M |
Open | High | Low | Value | Volume |
1.0¢ | 1.0¢ | 0.9¢ | $1.158K | 116.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 476435 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 280678 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 476435 | 0.009 |
4 | 1145000 | 0.008 |
5 | 1703834 | 0.007 |
1 | 200000 | 0.006 |
2 | 400000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 280678 | 1 |
0.011 | 211011 | 2 |
0.012 | 401111 | 3 |
0.013 | 249650 | 4 |
0.016 | 79432 | 1 |
Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
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