I completly agree with you on focusing on the successful parts of the company and aligning the cost base to more accurately reflect income from sales. $1.6m gives them 4 months or around the end of March to raise again unless costs decrease or revenue increases.
In a way it doesn't matter whether retail investors stump up for this raise. It's underwritten so the heavy lifting has been done. NOR are guaranteed $1.4-1.5m. They don't need to do anything to appeal to investors in terms of sales or cost cutting. What they have agreed to with the underwriter is a different conversation. Don't like the fact that the offer closes five days before Norwood would usually release their quarterly, seems sneaky and contrived. Maybe they can release their Quarterly early?
Given the company held the SGM to free up the 7.1 and 7.1A allotments indicates their first preference wasn't a pro-rata raise. They would have been looking for insto money which would have to have been issued under 7.1 and/or 7.1A. I guess they couldn't find it.
In good news for the company they can raise at will if an institution comes along wanting in using 7.1. Let's hope for fair trading and good news for holders prior to October 26.
- Forums
- ASX - By Stock
- Ann: Capital Raising
I completly agree with you on focusing on the successful parts...
-
-
- There are more pages in this discussion • 388 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NOR (ASX) to my watchlist
(20min delay)
|
|||||
Last
4.4¢ |
Change
-0.001(2.22%) |
Mkt cap ! $20.90M |
Open | High | Low | Value | Volume |
4.5¢ | 4.5¢ | 4.4¢ | $3.453K | 77.98K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 71223 | 4.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.7¢ | 372500 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 71223 | 0.044 |
2 | 100000 | 0.043 |
1 | 13888 | 0.042 |
1 | 100000 | 0.041 |
1 | 300000 | 0.040 |
Price($) | Vol. | No. |
---|---|---|
0.047 | 372500 | 2 |
0.052 | 59000 | 1 |
0.059 | 95632 | 2 |
0.060 | 190315 | 2 |
0.067 | 50000 | 1 |
Last trade - 10.13am 26/07/2024 (20 minute delay) ? |
Featured News
NOR (ASX) Chart |