I have been thinking about this and believe it is a totally dumb move. In essence, Management and the Board are saying they do not believe the shares are worth more than $4.40. They are playing into the shorters hands.
Surely someone on the Board can see they need to manage their cash and dispose of some non performing assets. It is about capital efficiency (hard work) now, not further dilution of existing shareholders.
Frustrated shareholder
I have been thinking about this and believe it is a totally dumb...
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Last
7.2¢ |
Change
0.008(12.5%) |
Mkt cap ! $176.8M | |||
| Open | High | Low | Value | Volume |
| 7.0¢ | 7.5¢ | 7.0¢ | $3.249M | 46.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 396987 | 7.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.5¢ | 3615392 | 10 |
View Market Depth
| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
7.4¢ |
Change
0.008 ( 15.6 %) |
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| Open | High | Low | Volume | ||
| 6.7¢ | 7.4¢ | 6.7¢ | 11773943 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| RFG (ASX) Chart |