Here's something for you to ponder following
@Nauv informative post from yesterday
---------------------------------------------------------------------------
"This is my last post on this forum regarding the CR. Two things:
I requested 5 million shares and I'm a top 20 holder. Preference was to be given to existing shareholders and bear in mind I'm 17th largest. In the last CR I was given 100% of what I asked for. However, in this CR, of the 5 million I requested, I was cutback to 47% allocation. That's how big the demand was this time. I'm guessing some People would have got 20-30% only.
And before you get all stupid etc etc. Bear in mind that this is not the demand from retail. This is the demand from the big end of town that actually know what they are doing. Read into that, what you may."
----------------------------------------------------------------------------
So on the face of it there was demand there for over 500 Million shares in the placing, (maybe even close to 700 Million shares).
Yet here we are 2 days later with little sign of any buying interest from all of those that didn't get anywhere near the number of shares they wanted in the placing.
So what does that say ?
Personally it tells me the placing was completely wrongly priced, they should have got at least 2.3 cents a shares.
Demand wasn't there because investors understood the Syntonic story any more than they did last week, it was simply an opportunity to get some free money on a wrongly priced item.
The company has a lot of explaining to do.
LOTM
