Hi Brynndustries
Do you mean the anns from yesterday and today?
If so...
at the AGM they are asking people to vote in favour of the usual provision to issue 15% of shares and an extra 10%. I rang the company about this to get some clarification. The answer is management wants that extra flexibility.
I think it is a function of the long term damage done by Bergen. Once Bergen is paid out the next problem will be funding .... and that is likely to be an ongoing issue for some time IMO. Management assumes the SP will improve without the Bergen debt overhang .... but it is still a company which is radically short of cash. My guess ...it means another CR once the price improves. Something which I am expecting in any case. [prefer that to farming out the underlying assets]
As for the ann regarding the scale back of allotments ... speaking as an impoverished holder, I am very pleased they gave the small participants their full allotment up $2000.... they did the right thing there IMO.
Hi Brynndustries Do you mean the anns from yesterday and today?...
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Last
11.0¢ |
Change
0.010(10.0%) |
Mkt cap ! $15.20M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.0¢ | 11.0¢ | $12.02K | 109.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 652047 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 10000 | 1 |
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| Last trade - 11.37am 05/07/2024 (20 minute delay) ? |
| SOC (ASX) Chart |