Ann: Rights Issue Acceptances, page-3

  1. 4,077 Posts.
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    Maybe a sign of the times, but I think more likely, lack of confidence in the company. The sort of people who bought a lot at IP have a lot of money, and if they saw value, they could have picked up a lot of very cheap shares for relatively not much. To be honest, I'm a bit disappointed with the uptake.

    I think a lot of the top investors are just holding on to their shares in the hopes of a turnaround (no one is selling for a massive loss), but they are not sufficiently confident to be adding to their position.

    I'm not surprised that all the directors fully subscribed. On the one hand, it would just look terrible if they didn't. On the other hand, they might be seeing dollar signs about picking up a bunch of shares real cheap. They did, after all, take a minor pay cut to pick up an extra 2 million share in lieu.

    Just going to have to be a bit patient.

    Next steps are:

    - Waiting for the shortfall to be filled.
    - Waiting for Grasim to start working with us again following relaxation of restrictions
    - Waiting for an agreement or three with clothing manufacturers

    Looks like we could be waiting up to another 6 months before we start seeing an uptick in the share price.

    I'll be sending Wayne an email in the coming weeks seeking clarification on next steps and the New Forrest plans.

 
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Last
8.2¢
Change
0.000(0.00%)
Mkt cap ! $25.01M
Open High Low Value Volume
8.3¢ 8.3¢ 8.0¢ $15.59K 192.4K

Buyers (Bids)

No. Vol. Price($)
2 45700 7.9¢
 

Sellers (Offers)

Price($) Vol. No.
8.3¢ 52978 1
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Last trade - 15.40pm 29/07/2025 (20 minute delay) ?
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