According to the AFR, LCL will be raising up to $20m on 16c. This represents an approx. 19-23% dilution depending on the size of the deal. The raise is managed by Euroz Hartleys and Sprott and the insto placement will be closing this afternoon. I assume once the insto round is over, the trading halt will be lifted and trading recommences tomorrow morning.
Overall this CR is a huge disappointment, not only the size of the raise is too big, but they waited too long as well, so the SP has dropped from 20c to 18c.
Ann: Trading Halt, page-55
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Last
0.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.719M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 4963740 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 757083 | 7 |
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