I read ChippyDude's post. I not sure that a rights offer would be a very popular move for MYR here at this point in time. What are MYR going to do with the additional capital? Pay down debt? Put it into their New Myer agenda? Shareholders will only subscribe to a rights offer if they are:
- Confident in management
- Confident in the business
- Confident in a return
If Lew does decide to take a loss and liquidate his entire position on market, it would obviously have a negative affect on the share price and investor sentiment of the stock. He might find it difficult to dump his entire position on market at once without possible regulatory backlash, however he should be able to dump a million or so shares a day for a month until full liquidation.
Ann: Q2 Trading Update, page-243
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Last
80.0¢ |
Change
0.010(1.27%) |
Mkt cap ! $665.4M | |||
| Open | High | Low | Value | Volume |
| 79.0¢ | 81.0¢ | 79.0¢ | $2.299M | 2.872M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10060 | 79.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 80.0¢ | 37136 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MYR (ASX) Chart |