6.18 x .48 = 2.966
2.966 increase to 3.09 is just over 4%
If you’ve got anywhere between $250k - $500k invested in this conversion, that’s still a tidy 5 figure profit just from the TO.
But yes, the higher the DVP SP trades, the better the premium in the TO but if substantial number of DVP shares get sold to purchase ESS instead to try and take advantage of that increase, then the opposite could occur where by they’d be driving down the price of the TO stock and increasing the SP of the stock to be taken over, essentially eroding the benefit that currently exists.
Ann: ESS: Scheme of Arrangement Update, page-126
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Last
$2.17 |
Change
0.030(1.40%) |
Mkt cap ! $529.5M | |||
| Open | High | Low | Value | Volume |
| $2.13 | $2.17 | $2.10 | $1.514M | 707.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8000 | $2.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.18 | 3552 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| DVP (ASX) Chart |