The minimum bid price rule under the Corporations Act applies at the security level, not the company level. Implied value on the 1 for 4 offer was $0.49 so that's the minimum amount they are legally allowed to offer per GCY share. It can't be adjusted downwards based on an increase in the shares on issue of the target.
Offer will be withdrawn and it will be four months before they are clear to come back with a lower offer per share.
The minimum bid price rule under the Corporations Act applies at...
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Last
56.5¢ |
Change
-0.010(1.74%) |
Mkt cap ! $613.1M | |||
| Open | High | Low | Value | Volume |
| 58.0¢ | 58.5¢ | 56.5¢ | $3.221M | 5.654M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 390227 | 56.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 57.5¢ | 42048 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
57.0¢ |
Change
-0.010 ( 1.30 %) |
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| Open | High | Low | Volume | ||
| 58.0¢ | 58.0¢ | 56.5¢ | 859060 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| SPR (ASX) Chart |