They were supposed to allot the shares today, so they are well behind.
I wonder whether the $1.5m that was underwritten is now being searched for again. I'd suspect the underwriting agreement would have some clause that released them from the agreement if the share price declined drastically. Which it did.
I also wouldn't be so sure they didn't really want that extra $3m. While it may not be for the acquisition it would have been very handy working capital.
I'm a big supporter of CAT, but you can't help but feel they dropped the ball with this CR.
Ann: Share Purchase Plan Offer Booklet, page-93
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$2.04 |
Change
0.150(7.94%) |
Mkt cap ! $533.6M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $2.07 | $1.89 | $1.131M | 566.5K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2842 | $2.01 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.05 | 444 | 1 |
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