It will be very interesting to see SH response to the motions to allow the company to potentially raise (and hence as clearly explained) dilute our shareholdings even further, with another 10% “in addition to those under the Eligible Entity’s 15% annual placement capacity under Listing Rule 7.1.”
And whether SH approve the recent prior issue. Approval is not needed for this issue.
SH approval is only needed to allow the Company to issue a further 15% within 12 months. I like others was and remain NOT impressed with the recent issue price of 20c (instead of say 33c). Nor with the leakage of information prior to disclosure(s), insider trading, and downward pressure on the SP and consequent massive losses in SP (53%) and to SH’s assets.
I also find it interesting that there are no Director recommendations with supporting statements about these resolutions, nor about the reappointment of Kyle Edwards. Nor are there any reasons given by the Company as to why SH should support these motions.
I am also a little concerned about the delay this year in announcing the date of the AGM wrt last year (17 October 2017), and likewise the delay in holding the AGM (15 November 2017).
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Last
$3.55 |
Change
-0.110(3.01%) |
Mkt cap ! $1.394B | |||
| Open | High | Low | Value | Volume |
| $3.60 | $3.62 | $3.53 | $9.535M | 2.639M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3085 | $3.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.55 | 3675 | 1 |
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| Last trade - 16.10pm 01/08/2025 (20 minute delay) ? |
| PNR (ASX) Chart |