Ann: Entitlement Rights Offer Period Extended, page-68

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WatfordLad

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01/03/24

12:15

Post #: 72692846
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Originally posted by Eyeman: ↑

Taken from @WatfordLad post on Jan 12 RE conversation with SM:

There has been a lot of traction with this and going nicely. The Govt are very keen to get it sorted. There was a lot of internal drama surrounding the leak prior to the first gas discovery and the person that leaked it prior to ASX ann has now been dismissed.There is a lot going on in the background and it is coming soon.I asked if he believed like I did that a PPSA signed, would attract the larger institutional investors and subsequently raise the sp, and he said absolutely. He believes they are waiting in the wings.This is nearly two months later and I thought (happy to be proven wrong) that SM indicated this would be done before the Rights Issue was completed. Well it has been extended and still nothing about the PPSA. There are always many defences given for SM not doing this or that, but if he makes representation something will happen, he should be accountable, even if it was to come out and say - "nup the Zim Gov are still ginning around".

The lack of transparency on this issue, in my opinion, is a massive handbrake to this stock and it;s SP.

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Yep that is what he said.
And I agree - we do not seem to be moving forward re PPSA - just a loose comment indicating 'the next few months'.
Idea - why don't you call him? He is a true gent and I am sure he will enlighten you and your concerns.
Cheers

IVZ Price at posting: 9.8¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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