Now as long as we don't get a major bump on big volume over the next 2 days before SPP shares are issued. Which will bring up the issue price of the SPP due to asx listing rules exemption 5.
The SPP shares will likely be issued on Thursday, 11 May. The VWAP period for the purposes of satisfying this Listing Rule requirement will be Thursday, 4 May to Wednesday, 10 May. The SPP offer price must be at least 80% of the VWAP over this period, noting that there are three days of overlap and the SPP price will be, at the lowest, 97.5% of the VWAP over the last five days of the SPP period. (May 2nd - may 8th). The issue price of 16c will have to be within 80% of the vwap from may 4th to may 10th.
Goodluck all. Still a major risk but down here the upside seems worth it and with options out to Apr 25'. It could work out quite well.
CYP Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
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