To improve liquidity and allow for greater chance of capital raise in my opinion. ECT had no choice.
Case and point the latest cap raise failing hard since the company could not offer shares lower than already bottomed out stock price, leading to minimal uptake of CR since people can buy for same price on market.
Ann: Update - Consolidation/Split - ECT, page-9
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $7.929M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $178 | 88.64K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 57 | 28444466 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 12568271 | 24 |
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| Last trade - 13.41pm 02/09/2024 (20 minute delay) ? |
| ECT (ASX) Chart |