Interesting... 5 possibilities:
a/- This is the options being announced - ridiculous as the Trading-Halt wording is for giveaway options - this is typical wording for an options announcement - and as ASX has put TV2 on notice (ie - we are watching you), I doubt TV2 is going to stray away from the norm. (Timing for this after yesterday's dump, after what was essentially - good news - may be deliberate - so
the qualifying date may be yesterday - this would theoretically capture both faithful old holders, and new holders who at least passed yesterdays test/bump in the road to get these 'loyalty shares'.)
b/- It is a normal CR for something specific the
market will like - which would explain why the SP has risen. What that good news could be - could be anyone's guess; ie - a licence for Russia for HBO content... but really, who knows (uh.. except those that started the SP going up in the last few weeks). Anyway, being good news, the broker managing the CR, may already have commitments to get it fully subscribed.
c/- It is both the above
d/- It is a normal CR for something specific
market will NOT like, as such we are screwed - at least short-term.
e/- This has been an orchestrated
pump and dump - and this CR is a cynical act to milk more from the market, as such we are screwed, and management deserve to rot in hell.
The last 2 options are not my take on management. I have seen enough to think it is strictly about the options. A CR for a deal out-of-left-field is less likely considering they just told ASX the below 11 days ago:
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And I don't think it's a pump and dump - the fundamentals of TV2 haven't changed. Why would Nick Fitzgerald risk his baby with a crude quick buck from a pump and dump? It doesn't make sense with income about to commence theoretically
NEXT WEEK. (Note - theory - what would explain the pump of the last few weeks is - some
people got wind of (I'm being polite with that phrase) the loyalty option date being set about now... so increasing holdings by 25% for virtually nothing would be a strong incentive to buy back then if you believed in TV2's fundamentals.... and/or intend to sell the options for virtually pure profit down the track.).
Anyway, all the above is speculation - we'll find out soon enough. Have a good one.
NOTE - For those that don't understand options. The big thing about these options - they will be tradable like any other stock - all the way until the March 2019 expiry. So, after a holder gets their options - they can sell them as is, and the selling price, set by the market, will be virtually pure profit. So at this point - they are virtually free shares. But, if you chose to convert them to normal shares, and you can anytime - you then have to find 4cents a share for the conversion.
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