per Announcement on 27 Apr, there is A$150M convertible note issued to AustralianSuper which is executable in 3 series, each $50M.
https://www.syrahresources.com.au/investors/asx-announcements#
first series was issued on 12th May(Fri). and SP increased by 4%.
https://www.syrahresources.com.au/investors/asx-announcements#
but next opening day dropped by 10%.
we had the same pattern this week. SP jumped following the positive news. then dropped. then increased again today by 10% after executing the $ 50M convertible notes.
let's see market reaction on Mon.
on the flip side, there should be a strong reason behind AustralianSuper decision to execute notes 5 months to the deadline. may be they identified $ 0.65 as the bottom line.
Ann: Notification regarding unquoted securities - SYR, page-7
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