Don't forget that this SPP is only $10 million & really is a miniscule amount in the scheme of things. The insto's raised $70 million instantly & the SPP would only be there to pacify & throw a few crumbs to retail shareholders. I also believe there is a condition in the Companies Act that says it is illegal to discriminate against one shareholder over another.
When the SPP was announced (12/5/2023) CHN had already raised the $70 mill which had enabled those "selected" holders to trade before the trading halt took effect. Did anyone wonder why the share price suddenly started falling sharply when previously it had been charging ahead to the $8 mark ?
Don't get me wrong, I'm a fan of CHN and believe the future is very bright. SPPs & CRs, in general, often have the same pattern for most other companies, it's just business that's all
All IMO of course !
Ann: Share Purchase Plan Opens - Letter and Offer Document, page-35
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Last
$1.31 |
Change
0.020(1.55%) |
Mkt cap ! $509.5M | |||
| Open | High | Low | Value | Volume |
| $1.32 | $1.38 | $1.31 | $4.246M | 3.177M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 115841 | $1.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.31 | 37678 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| CHN (ASX) Chart |