Hi Benjiboy
Welcome. I think you've hit the nail on the head with your analysis. Only existing holders can access the placement (or rights issue or whatever it is called) at 1.2. One would expect the SP to trend back towards those levels especially if holders immediately sell their new shares.
Also it is a pretty thinly traded stock (low volume) so a few 'pips' (by which I mean, increments of 0.001) don't mean very much day-to-day.
Regards,
Ann: Letter to shareholders - share purchase plan, page-4
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Mkt cap ! $14.68M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $13.78K | 3.175M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 25049744 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 20457703 | 14 |
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