Yep, I reckon this announcement was just a favour to Bell Potter, which has about 2.7m shares to divest. Gives it a 10% stag profit on the underwriter shares.
- a short two-week SPP
- documents not sent to all shareholders and very late to others
- no provision for shareholders to apply for more than their 1/33 entitlement.
All this led to a very unfortunate 37% take up (and worse, may be used to justify the capital raise structure - "you see, you can't rely on retail holders to fund the company")
- then a repeat-of-November announcement to give the SP a bump.
Maybe Alan also had to promise to name a child Bee Potter?
Anyway, bring on the next patient with a complete response, and all the Bell shenanigans will be (not justified, but) forgotten.
Yep, I reckon this announcement was just a favour to Bell...
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Last
$7.35 |
Change
0.200(2.80%) |
Mkt cap ! $2.353B | |||
| Open | High | Low | Value | Volume |
| $7.22 | $7.58 | $7.17 | $8.142M | 1.098M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3007 | $7.34 |
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| Price($) | Vol. | No. |
|---|---|---|
| $7.35 | 2304 | 1 |
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| Last trade - 16.10pm 06/11/2024 (20 minute delay) ? |
| CU6 (ASX) Chart |