I think it will trade because whilst the circumstances are a bit "convenient" the explanation does really seem to fit. If you look at the time of the of the price query response it was around 12:30pm, then calling a board meeting would take a little while to get everyone available. Then they halted trade before market opened the next day. They have seemingly complied with the listing rules to the letter. I don't have any doubts about that.
The reason they rushed the CR in my opinion is because of the volatility in this sector. This could have quite easily pulled back below the CR offer in a week or two and profit taking kicked in. This was about securing the business model while cash was on offer. The company openly stated in the 4C that they would be looking at funding this quarter. This just happened to fall into their lap from an opportunistic broker. All opinion of course.
I think it will trade because whilst the circumstances are a bit...
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Last
3.3¢ |
Change
0.002(6.45%) |
Mkt cap ! $37.48M | |||
| Open | High | Low | Value | Volume |
| 3.1¢ | 3.7¢ | 3.1¢ | $159.2K | 4.883M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5305 | 3.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.5¢ | 304130 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
3.5¢ |
Change
0.002 ( 12.9 %) |
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| Open | High | Low | Volume | ||
| 3.2¢ | 3.8¢ | 3.0¢ | 1746367 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| OVT (ASX) Chart |