Another way of looking at the uptake of the offer is that the brokers/underwriters were confident that they could place not just the original $1.7m placement but also any shortfall in entitlement uptake. Because that is what they will do .. place the shortfall with their clients. So it becomes a $3m placement and a $2m shareholder buyin. At least management won’t cop any flack for just doing a placement only. We had our chance.
I don’t think BML would be too surprised by the result in the current climate. If they had offtakes and finance announced it would have been a totally different outcome IMHO.
H
Ann: Results of Non-Renounceable Entitlement Offer, page-9
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Last
10.0¢ |
Change
0.004(4.17%) |
Mkt cap ! $23.33M | |||
| Open | High | Low | Value | Volume |
| 9.6¢ | 10.0¢ | 9.5¢ | $31.92K | 327.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 37782 | 9.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.0¢ | 302316 | 1 |
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| Last trade - 15.59pm 16/07/2024 (20 minute delay) ? |
| BML (ASX) Chart |