SMN (ASX) Ann: Suspension from Official Quotation

Originally posted by Lies&damnlies: ↑

Hi Massivedrone

We have interacted successfully on HC quite often.

I have been thinking about this for days. On Monday the shareholders may be given some sort of clarification for the reasons for the behind the capital raise. How detailed this clarification is , I am unsure. It could be as simple as " We needed to raise some cash to be able to take advantage of future growth opportunities and reduce debt". I am hoping for more detail. We shall see?

What I have been able to derive though HC so far is this;
* a 10M institutional placement at 0.62
* a RTS issue to existing shareholders at a rate of 1 for 6 non renounceable at a 0.62
* someone suggested that these rights will be issued on Thursday 14 of Oct , I assume that's correct. There will be a RTS take-up closure date issued to shareholders.

Something to notice is that 5 trading days before the trading halt that the SP closed at 0.725 and was at 0.97 on the close of the last trading day?

These are just my thoughts and speculations at this time. Is fun to go though this process as it helps crystalize my views. But DYOR.
* I have been involved in companies that have just made an institutional placement with no opportunity for shareholders to participate. Just dilution for the SH's. Well done SMN us SH's have the opportunity to join in.

* The institutional investor or investors for the 10M equates to 16.1M shares. as there are approx 120M shares on issue currently there will be 136m if there was no SH offer, add another 20M shares if all shareholder take up the offer. So we arrive at 156 million shares. I doubt all shareholders will take up the offer so I guestimated that we will end up after the dust settles at around 150m shares.

* So when the dust settles the institutional placements will comprise 10.7% of the company. I doubt that there is just one institution involved because in this initial development and approval process we have had multiple essential partners and I speculate that these partners have been invited to participate in the rewards. Delta airlines comes to mind first of all but there could be others.. Lets see who get to the 5% threshold.

* Its great that us shareholders get to be involved , but it should be remembered that many of our top executives in order to save cash took their remuneration in stock and now can add to this by taking up their RTS issue. I have absolutely no problems with that as they helped the company survive through cash strapped times.

* The CEO on multiple occasions state that they had no intention of a capital raise. But something has changed possibly even in the last month since the Eagle Audio acquisition. My Next points are pure speculation and we might find out more on next Monday.

* Another great bolt on plug in opportunity? Like Eagle Audio. 20% confidence

* Moving into the bigger production premises in Dec 2021. I remember at SMN's existing premises where we expanded production of CVM's by adding another clean room and production facilities, not that long ago. Now we have AEM expanding , Eagle Audio addition and with FAA approval of WIFI installation pending will this new facility to cope with all these operations in one location.

* Just speculation again. We will retain the old SMN premises to continue producing CVM's move AEM into the new premises and Eagle Audio into the old premises. This would allow the knew expanded CVM production facilities into the new premises. Additional CVM production facilities cost also the expanded inputs to the supplies required to produce CVM cost money. So no transfer of CVM production equipment , just additional equipment and supplies.

My speculations may fall into a heap on Monday. This Is just how I read what's happening now on the information I currently have.

I have decided to take up the RTS offer. As Always DYOR

We shall see.

cheers Lies

Expand

I like the idea of a couple customers buying in.

I’m hoping the money will be used strategically as with the AEM purchase. The AEM purchase secured our manufacturing, engineering and approval mechanisms. Possible this time, they are looking at securing a company in the states with the ability to install sensors on aircraft? This could also help with regulatory issues as the FAA does not like working with foreign company’s. New STC applications could be run through this new company and we would then control our own destiny(current control is Delta).

On the other hand, they might just be helping their buds in anticipation of Wifi approval.

No.	Vol.	Price($)
2	60000	38.0¢

No.

Vol.

Price($)

60000

38.0¢

Price($)	Vol.	No.
40.0¢	2559	1

Price($)

Vol.

No.

40.0¢

2559

No.	Vol.	Price($)
2	60000	0.380
1	2600	0.375
3	73500	0.370
1	13698	0.365
1	10000	0.360

No.

Vol.

Price($)

60000

0.380

2600

0.375

73500

0.370

13698

0.365

10000

0.360

Price($)	Vol.	No.
0.400	2559	1
0.405	3000	1
0.415	52156	1
0.420	534	1
0.430	13500	1

Price($)

Vol.

No.

0.400

2559

0.405

3000

0.415

52156

0.420

534

0.430

13500

(20min delay)
Last 40.0¢		Change 0.020(5.26%)		Mkt cap ! $54.72M

Open	High	Low	Value	Volume
39.0¢	40.0¢	38.5¢	$86.35K	219.2K

I like the idea of a couple customers buying in. I’m hoping the...

Recce's R327 found effective against E.coli during clinical trial

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Microcap Wrap: 5 explorers with news out today

Ava Risk Group expands US presence with A$0.7M Substation Deal

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

I like the idea of a couple customers buying in. I’m hoping the...

Top Stories

Recce's R327 found effective against E.coli during clinical trial

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Microcap Wrap: 5 explorers with news out today

Ava Risk Group expands US presence with A$0.7M Substation Deal

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News