With the buy-backs going on, the risk for retail (and possibly the company) is that retail likely now hold less than 10% of shares. This poses two problems/issues for both parties.
Firstly, liquidity is fast drying up. With fewer retail holders, daily volumes are very low. A few low volume trades can produce large daily price volatility - mostly to the downside atm.
Secondly, ASX requirements require listed companies to maintain a minimum of 300 (non-associated) holders, with balances of >$2000. The last time I checked, we were at less than 1000 holders that meet this criteria. With the sp tanking and with buy-backs going on (primarily targetting these retail holders), how long before the company breaches these listing requirements?
What happens then? Delisting from the ASX?
With the buy-backs going on, the risk for retail (and possibly...
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Last
68.0¢ |
Change
-0.025(3.55%) |
Mkt cap ! $212.8M | |||
| Open | High | Low | Value | Volume |
| 70.0¢ | 70.5¢ | 67.5¢ | $254.4K | 364.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 43960 | 67.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 86 | 1 |
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| Last trade - 15.07pm 22/07/2024 (20 minute delay) ? |
| A1N (ASX) Chart |