Gee - a lot of armchair experts here - who don't have any skin in the game.
This is a great move imo.
1. It would not be prudent to fork out $1,500,000 cash if the company is making a loss. You should only allow that cash to leave a company if you do not particularly need it for anything. And of course you should HAVE the cash. Looks to me like BDT has a nice cash buffer and is not in a loss-making position. How are sales and profits going at this point in time? We don't know because figures are not published.
2. Taking out the disaffected major shareholder eliminates a potential share overhang.
3. Decreasing the number of shares on issue will mean whatever profits eventuate will be shared to a smaller number of shares i.e. increase the EPS.
4. The take out price is fixed at a very cheap 5 cents. Well done!
Unlike other posters here, I do have skin in the game, and I do like what I see!
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Last
6.8¢ |
Change
-0.001(1.45%) |
Mkt cap ! $10.98M |
Open | High | Low | Value | Volume |
6.7¢ | 6.8¢ | 6.7¢ | $1.078K | 16K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 143707 | 6.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.8¢ | 94000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 143707 | 0.065 |
2 | 253797 | 0.063 |
1 | 10000 | 0.061 |
1 | 200000 | 0.060 |
2 | 20000 | 0.050 |
Price($) | Vol. | No. |
---|---|---|
0.068 | 94000 | 1 |
0.070 | 78397 | 2 |
0.071 | 22368 | 1 |
0.082 | 70000 | 1 |
0.085 | 39999 | 1 |
Last trade - 15.55pm 20/08/2024 (20 minute delay) ? |
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CHARIOT CORPORATION LTD
MD - Shanthar Pathmanathan, Geologist - David Trabert
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