I would like to highlight something that just cross my mind.
We all have been talking about that frustrating 6 months we are having, especially since the merger date of 20/7/2017. We have also note that there are sellers in the market, notably the Argentinian party who has just let go the 6.425m shares at 45c; perhaps from those who took the placement at 64c last year taking profit; or traders and shorters in the game and the conspiracy theory on the "invisible hands" who is pressing the price down to collect more...
I was wondering what RSL Investments Corp is thinking after acquiring 28% of the company at 85c and now the price is sitting at 54c. Why can't they tighten the registry more? The reason is none other than the Takeover Provisions in Chapter 6 of the Corporation Act.
http://www.takeovers.gov.au/content...mmary_of_takeover_provisions_in_australia.htm
However, in item 9 of s611, RSL is allow:
From 20 January 2018 onwards, there will be a potential buying force from our biggest shareholder to acquire about 11m shares from the market within the 6 months that follow. I think it is now starting to show some strength in the charts in anticipation of this.
- acquisitions of no more than 3% in every 6 months (the 3% "creep" exception in item 9 of s611)
Chart, page-2467
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Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $113.5M |
Open | High | Low | Value | Volume |
10.0¢ | 10.5¢ | 9.8¢ | $9.627K | 97.28K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 200000 | 9.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.5¢ | 205841 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 200000 | 0.097 |
1 | 100000 | 0.095 |
2 | 105799 | 0.092 |
1 | 100000 | 0.090 |
2 | 48666 | 0.085 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 199639 | 3 |
0.110 | 187181 | 3 |
0.115 | 115012 | 3 |
0.120 | 260053 | 3 |
0.130 | 75364 | 3 |
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