Agreed with everyone on the price. If demand was that strong then no option and a premium or at least on par issue with the 10 day VWAP would've been appropriate. Also read the announcement again. Some of the stock also went to Baker Young - most likely them for their own staff which explains the discount. I know for a fact that staff have previously been allocated stock as part of the CR. Conflict of interest anyone?
What miffs me the most is the price though. It. feels the existing shareholders are blindsided rather than rewarded due to new holders not buying on exchange. We might as well delist and change to a large proprietary company if the aim is to not allow existing holders to benefit from rising share prices. It would save as a lot of money and we could get rid of the Baker Young mob.
I'm miffed and will bring all of this up at the AGM in six days.
Agreed with everyone on the price. If demand was that strong...
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