The last 3 CR's of mine all had SPP's. This is still a speculative stock and they generally have an SPP. The CR's which don't generally need the money quickly for something and can't wait for the drawn out SPP process.
Agree with most of everything else you said especially the buckwheat.
Most company's take advantage of a SP jump to do a CR. Lessens the dilution at the higher price so they don't have to issue as many shares to get the amount of cash they want. The price, much to my personal annoyance (I wanted to top up and was labelled a down ramper by some of the lesser experienced ASX participants, being nice) has consolidated around the mid 40's for a few weeks now. IMO, they were probably waiting to see if the SP went up further before announcing the CR but didn't so had to act now.
Ann: Trading Halt, page-27
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Last
19.5¢ |
Change
-0.010(4.88%) |
Mkt cap ! $471.1M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 19.3¢ | $1.043M | 5.248M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 158758 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 1228859 | 17 |
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