Thanks Possum. Do you think the SP will fall when the new shares...

First 6 Last

Share
Profile

Follow
primrose

213 Posts.

25

15/05/20

22:25

Post #: 44650700
Share

Originally posted by possum2: ↑

primrose,

""or will everyone who currently holds shares get the opportunity to buy at .005 ""

The shares have already been placed to sophisticated investors. Up until a few days ago before the trading halt there was ample opportunity for all shareholders to buy as many shares as they wanted at.06c. The placement was done at the same price that the buyers were willing to pay for them when the deal was done.. The placement shares have not yet been issued so they cannot be sold into the market..
The buyers in the market have recently been lined up at .05c. I was one of them. I thought I would sit at that price and if someone wanted sell down I was happy to buy a few more.

The good thing about this last placement primrose was that the shares that were offered in the placement was around the same price as the share
price has been during the last couple of weeks. No one can complain that they did not have the opportunity to buy cheap stock and average down if that was their want.

Of course no doubt there will be some who might complain that they weren't offered shares at .05c now that the shares are being purchased at 1c. Funny about that. They didn't want to buy them around that price on market but now feel aggrieved that they were not offered any . Last time a placement was organised for shareholders to partake only a very small number took up their entitlement . If I remember correctly the Chairman ended up spending another $600,000 plus to make up the shortfall. Sometimes when doing placements, you are damned if you do and damned if you don't. If you know what I mean.

Cheers.

Expand

Thanks Possum. Do you think the SP will fall when the new shares hit the market and most likely some will be sold off for a quick profit?

VRC Price at posting: 1.0¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply