Sorry can you expand on "why now and why at 4.4c"?

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Virgil73

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09/12/21

11:47

Post #: 58185158
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Originally posted by blackbyrdd: ↑

FWIW I spoke to MJ.

He acknowledged my point about the discount and I was able to get a good understanding as to why now and why at 4.4c.

Someone mentioned in the other thread (as a rebuttal to me) that by offering a SPP it could have put some downward pressure on the stock price which made a lot of sense. People selling at 6c (hypothetically) to raise funds and repurchase shares at 4.4c may actually stunt the share price on the back of this great EXIM news for months to come.

By doing so now and the fact everyone was scaled back significantly people will need to buy on market if they want to get their desired allotment.

I did maintain that I thought it could have been done at a small premium even as a token acknowledgement to the significance of the news and he acknowledged that but still maintained he did what he felt was right for the company.

Without a doubt MJ is an incredibly astute man that has achieved an awful lot in a short amount of time with IBG. It was nice to congratulate him on his success. He is a seriously nice guy.

We both agreed that in the long run no-one will care about a minor discounted share raise (which is the common theme on here anyway) but I was glad that he took the time to explain the reasoning and logic. I walked away with a much better understanding and contentment for this decision and won't comment further on HC about it.

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Sorry can you expand on "why now and why at 4.4c"?

IBG Price at posting: 4.7¢ Sentiment: None Disclosure: Held
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Sorry can you expand on "why now and why at 4.4c"?

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Sorry can you expand on "why now and why at 4.4c"?

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