My understanding is that if the scheme gets up it will be implemented in March 2024. Any holders who came in from March to mid-June this year where the SP was around 50 cents and even those into August when the SP was around $ 2 you would expect to vote against the scheme considering CGT implications. Other significant holders that have held for an extended period would be advantaged by say selling 50% this financial year at $3.65 and the same again early in the following financial year against taking the $3.70 in March.
With the weighting of shares with the 38% removed and a 75% requirement to get the scheme over the line I am not sure it is a done deal. We will have more drill results and possibly an MRE to chew on.
Shareholder voting apathy may be the biggest issue.
AZS Price at posting:
$3.69 Sentiment: Hold Disclosure: Held
(20min delay)
