IMO the way this process should work:
1. Halt
2. Trial update
3. Modest rights issue with stretch options
4. Resume trade
This assumes trial success, but the bulk of future funding arrives at a significant price differential.
Just have a look at how new entrants at CHM were shafted last Thursday after announcing their trial update and trading for less than 3 hours before announcing another funding round. Some new holders will already be down >50%.
The above process would reward existing shareholders and mitigate dilution without shafting new market participants.
IMO the way this process should work:1. Halt2. Trial update3....
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $30.69M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.5¢ | 13.0¢ | $4.281K | 32.26K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 377871 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 884 | 1 |
View Market Depth
| Last trade - 12.50pm 26/06/2025 (20 minute delay) ? |
| ILA (ASX) Chart |