The relevant number of shares for sale for MEP is not the total number of shares for sale on the screen but the number of shares for sale that makes for a rational flip into ADN shares .
Any buyer now of MEP shares has to accept the offer or have the MEP shares compulsorily acquired .
Either way buying an MEP share now means you are really buying 1.15 ADN shares .
ADN looks like it will open at 18 cents this morning so any buyer of MEP shares needs to pay less than 18 * 1.15 =20.7 cents for it to be a rational trade .
The lowest price seller on the screen at the moment is at 21 cents .
There are zero MEP shares for sale at the moment for a rational buyer .
A rational owner of MEP shares would recognise the inevitable and accept now to get control of the ADN shares sooner .
They may get enough shares accepted today to get over 90% .
Ann: Notice of Change of Interests of Substantial Holder for MEP, page-29
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.09M | |||
| Open | High | Low | Value | Volume |
| 1.9¢ | 2.0¢ | 1.9¢ | $23.32K | 1.218M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1890036 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 482157 | 4 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
1.9¢ |
Change
0.000 ( 4.04 %) |
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| Open | High | Low | Volume | ||
| 1.9¢ | 2.0¢ | 1.9¢ | 2567176 | ||
| Last updated 15.44pm 07/06/2024 ? | |||||
| ADN (ASX) Chart |