please show me im wrong
There's no constraint on Beacon doing an on-market buyback at current prices save for the on-market 10% Corporations Act rule [ 10% of issued capital in 12 months] and ASX listing rules requiring any purchase to be no more than 105% of the 5-day VWAP. The latter does impede somewhat the process given that 2.8 cents is 7.7% higher than 2.6 cents. And, yes, a 10 for 1 consolidation does make buy back price increments of 1 cent so easy.
But there is also the possibility of an off-market buy-back. Beacon could obtain shareholder approval to do a jumbo buyback of say 20% of its capital at say a 25% premium to its current price ie 750m BCN at say 3.5 cents . I suspect this holds more appeal as the proposal can be made conditional on achieving minimum acceptance of say 300m BCN shares.
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please show me im wrongThere's no constraint on Beacon doing an...
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Last
2.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $84.52M |
Open | High | Low | Value | Volume |
2.2¢ | 2.3¢ | 2.2¢ | $12.85K | 582.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 2367627 | 2.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.3¢ | 1142470 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 2367627 | 0.022 |
11 | 1814353 | 0.021 |
5 | 3621841 | 0.020 |
3 | 546368 | 0.019 |
2 | 188000 | 0.018 |
Price($) | Vol. | No. |
---|---|---|
0.023 | 1142470 | 6 |
0.024 | 2296666 | 7 |
0.025 | 1441945 | 3 |
0.026 | 2067322 | 4 |
0.027 | 83333 | 1 |
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