As much as I don't like it, I can see the logic.
$1.18 prices SGI at C$0.39, $1 = ~C$0.33. Offering an SPP ran the very real risk that CYL would trade at $1 or less, virtually no premium to current SGI prices, which would probably kill a vote dead. As I've reasoned before, these new shares have gone to holders who have no intention of selling them in the short term.
SGI at C$0.27 is A$0.83 per CYL share (mine cost me A$0.95 but I'm content with that).
As an aside gold is around A$2844 overnight. Not too shabby
Ann: Proposed issue of securities - CYL, page-6
Add CYL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.06 |
Change
-0.050(4.52%) |
Mkt cap ! $233.7M | |||
| Open | High | Low | Value | Volume |
| $1.10 | $1.13 | $1.06 | $395.3K | 362.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 16941 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.10 | 15538 | 2 |
View Market Depth
| Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.07 |
Change
-0.050 ( 3.60 %) |
||||
| Open | High | Low | Volume | ||
| $1.10 | $1.13 | $1.07 | 26508 | ||
| Last updated 15.13pm 03/06/2024 ? | |||||
| CYL (ASX) Chart |