My best guess is they thought the market would have responded stronger to the acquisition (price of 10c) and then conducted a private placement raise at 8c to the M7T guys. Once they saw the share price reversing the quicker they got it in a halt the less the market could read into it and see a cap raise on its way....If they waited the SP could have continued to fall and it could have been done at 5c....Lets hope its at 6c+ to say the least and is a placement to those existing M7T long term parties that matter the most. Not a placement to insto's that flip it as soon as the stock hits the market.
Ann: Trading Halt-M7T.AX, page-14
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Last
54.0¢ |
Change
-0.010(1.82%) |
Mkt cap ! $130.2M | |||
| Open | High | Low | Value | Volume |
| 53.5¢ | 55.0¢ | 53.5¢ | $9.847K | 18.22K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 15881 | 53.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 55.0¢ | 31432 | 2 |
View Market Depth
| Last trade - 15.52pm 04/10/2024 (20 minute delay) ? |
| M7T (ASX) Chart |