Hi All - I've been watching SYA for a little while now and from what I can gather it appears to be undervalued and would like to purchase some SYAR. I am however confused a bit/a lot about this rights issue and in particular the 'renounceable' part.
I have a question in this context:
Scenario:
Non-holder
Can a non-holder who never owned shares in SYA make a purchase tomorrow of SYAR for 100,000 'rights' (say at 0.003 - see image below)?
And will this cost $300 to buy the 'rights' for 0.003 and the $1000 for the shares (0.01 per share) for a total for $1300?
I think the answer is yes as these are renounceable rights and can therefore be sold by other holders to non-holders, but I'm not 100% sure (obviously)..
Thanks,
Risky
Ann: Renounceable Rights Issue Prospectus, page-58
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3.5¢ |
Change
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Mkt cap ! $360.2M | |||
| Open | High | Low | Value | Volume |
| 3.2¢ | 3.7¢ | 3.2¢ | $3.583M | 104.2M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 5222047 | 3.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.6¢ | 3114773 | 17 |
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