Manny, under this structure LDA will not be "paying up" with their own capital for the stock issued under the call notices. Under this arrangement, LDA will sell (or short-sell if they are able to borrow stock from a large shareholder) & transfer that capital to BRN to "pay for" the newly issued capital under 7.1 capacity.
It is purely a mechanism to allow BRN to control how stock gets sold that is being issued under the 15% rule.
Technically LDA could pay for the stock using their balance & hold on to the BRN stock being issued under the call notices....but why would they take that risk?
Manny, under this structure LDA will not be "paying up" with...
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Last
21.8¢ |
Change
0.003(1.16%) |
Mkt cap ! $399.0M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 22.0¢ | 21.0¢ | $196.1K | 911.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 227933 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 1172387 | 26 |
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| Last trade - 10.20am 04/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |