Appears that takeup was lower than expected for the capital raising hence them receiving more shares via the underwriting agreement.
So an amendment to the Facility Agreement suggests to me that the lower take-up was a negative surprise.
You can spin it as management putting in more of their own money, but was there reallly another alternative?
Still waiting for the third independent director as these outcomes and resulting amendments need the scrutiny of a majority independent Board.
Shares are trading on the basis that management is working on the additional director. If they aren't, then they need to inform the market. I suspect they aren't. ASX/ASIC ... are you watching?
Just my opinions DYOR
Appears that takeup was lower than expected for the capital...
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Last
5.5¢ |
Change
0.001(1.85%) |
Mkt cap ! $16.18M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.5¢ | 5.4¢ | $2.657K | 49.12K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 55587 | 5.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 6.4¢ | 380 | 1 |
View Market Depth
| Last trade - 15.39pm 17/05/2024 (20 minute delay) ? |
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Last
5.4¢ |
Change
0.001 ( 1.89 %) |
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| Open | High | Low | Volume | ||
| 5.4¢ | 5.4¢ | 5.4¢ | 5000 | ||
| Last updated 12.06pm 17/05/2024 ? | |||||
| CDX (ASX) Chart |