"They just needed more time because they changed from a placement to a general CR."
This is a rather large leap of logic given the text of their announcement today.
"As the company is still undergoing its capital raising, the Company is requesting a voluntary suspension from trading to allow it further time to complete that process, particularly given the global nature of the placement."
"(a) the voluntary suspension is requested to allow the Company further time to complete the capital raising as set out in its trading halt requested Thursday 4 August ..."
A placement is a capital raising confined to a small set of parties who have to be recognised as "professionals", i.e. there is no prospectus. The text above clearly refers to a placement and a continuation of the process they announced about that placement last Thursday.
If they had abandoned the placement they would have to announce that separately, in addition a straight out "capital raising" would not be "completed" since instead it would require a prospectus, the passage of some time and the details announced.
"They just needed more time because they changed from a...
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Last
$1.20 |
Change
0.040(3.46%) |
Mkt cap ! $1.364B | |||
| Open | High | Low | Value | Volume |
| $1.20 | $1.21 | $1.17 | $14.36M | 12.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29438 | $1.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.20 | 271314 | 14 |
View Market Depth
| Last trade - 15.25pm 07/05/2024 (20 minute delay) ? |
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Last
$1.19 |
Change
0.040 ( 3.40 %) |
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| Open | High | Low | Volume | ||
| $1.21 | $1.21 | $1.17 | 2608329 | ||
| Last updated 15.43pm 07/05/2024 ? | |||||
| MSB (ASX) Chart |