re: Ann: IVR Announces Non-Renounceable 3 for...
As far as I am concerned I will not be taking up the offer as protest against the way they have conducted the rights offer.
IMHO it was a mistake to announce the offer, and then make the record date a future date! This is just an insult to long term holders and de-stabilises the scrip..
What is the point of a rights issue? It should be to reward long term holders.. what they have done may as well be just a placement to raise $7-8M. why bother with a rights issue..there is no point when there is no incentive for holders to take up their rights???
I have disposed of all my holdings in IVR but will definately re invest after the dust settles and mr dilution has entered the marketplace.. subject of course to any information that arises in the meantime..
The motivations behind the rights issue have to be questioned..does the broker underwriting it want to mop up as much as they can as disgruntled long term holders take a profit??
IMHO I can't see the share price drifting too far south of $0.09 and this depends greatly on global market sentiment that is dominating markets at present..not much material news is gonig to come out of Peterlumbo until drills hit dirt..
Still the best 'under the radar' plays IMHO
getting back in soon
IVR Price at posting:
10.8¢ Sentiment: LT Buy Disclosure: Not Held
