I stand corrected on my last post.(Brain fade again or just too much duff beer). There is in fact, according to annual report as of 21/09/09, 11,505 shareholders.
If in the unlikely event that everyone takes up the $3 mill offer, they would be scaled back to $260 each. So.... I can't see how that would cause a great selling rush, to pay for entitlements.
I do though, understand people's frustrations concerning the lack of news as I am suffering too, but I agree with CB in that, the cogs move slowly in big business. The next six months offers more promise, than we have had since, the 21 day data released back in 2007. As a long term holder myself, who has squandered many opportunities to sell out previously,(sometimes through greed, other times due to my rose coloured glasses), I will see this one out.
It is easy to forget that the last spp was at 7 cents and we should be happy with the current value in comparison. The same goes for the 53 cent issue which was in the money for a good while. I can't blame AVX for my entry price or my trading decisions, as they have no control on that.This is a speculative share after all, that does have great potential, but also carries with it some risks.
Overall, if the details of Cap raising on here are correct, I do not see great drama. I believe we won't receive much allocation and therefore little churn to finance it. It would have been a lot worse, if the insto's got a cheap ride and we weren't in on it.
AVX Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
