The way I read the prospectus is the SPP is not underwritten. Therefore if it's under subscribed then it's under subscribed.
I don't believe anyone can come in off the back and say I'll take those left over shares at the Retail offer. In the T and C's you must have held shares before the SPP announcement. You must have your money received by no later than COB today, you can only apply for a maximum $30K per holding.
If there is a shortfall it will need to be covered by a new SPP once this one simmers down (9-12 months).
^Initally I believe the share price fell by retail holders selling stock to participate in the SPP. That ended about a week ago. I think what you are now seeing is a loss of confidence in the stock (specifically management) from Retail holders. It's falling 5% a day, and has yet to really respecting any support levels. People get scared they sell. There is not much buyers depth as most of Retails money has gone to the SPP.
A perfect storm created by this CR.
It will take the market a few months to absorb $65M of new share supply and for things to settle down. (Unless there is a left of field positive announcement).
- Forums
- ASX - By Stock
- IMU
- Ann: Share Purchase Plan Closing Date Extended
Ann: Share Purchase Plan Closing Date Extended, page-595
- There are more pages in this discussion • 106 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IMU (ASX) to my watchlist
(20min delay)
|
|||||
Last
7.3¢ |
Change
0.002(2.11%) |
Mkt cap ! $530.6M |
Open | High | Low | Value | Volume |
7.0¢ | 7.4¢ | 7.0¢ | $774.0K | 10.73M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 323525 | 7.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.3¢ | 1294493 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 428000 | 0.072 |
24 | 1993406 | 0.071 |
22 | 4190778 | 0.070 |
16 | 1034513 | 0.069 |
23 | 1549490 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.073 | 1841145 | 31 |
0.074 | 1934679 | 11 |
0.075 | 861941 | 13 |
0.076 | 694262 | 7 |
0.077 | 327638 | 7 |
Last trade - 13.54pm 14/05/2024 (20 minute delay) ? |
|
|||||
Last
7.2¢ |
  |
Change
0.002 ( 2.56 %) |
|||
Open | High | Low | Volume | ||
7.1¢ | 7.3¢ | 7.0¢ | 5809924 | ||
Last updated 14.12pm 14/05/2024 ? |
Featured News
IMU (ASX) Chart |