@mool
These cross-trades are usually preplanned and instigated by the company.
Management would have been made aware some shareholders (probably vendors) wanted to sell a large block of shares. They would have contacted a broker to find a buyer.
What is pleasing to see is that despite the recent price pressure and the market tanking overnight, the cross trade was transacted at 40 cents.. or slightly at a premium.
Cross trades are usually done at a discount, also known as a liquidity discount. As you correct suggest, if the shares were to be sold on market - the price would be expected to fall considerably. 5% would be the norm for a large blue chip ASX company, so for FLC to execute a a slight premium sends a strong message.
The floor for any future cross trades is 40 cents, and those wanting to get in below that will need to buy on market.
Chart, page-4992
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $135.1M |
Open | High | Low | Value | Volume |
11.0¢ | 12.5¢ | 11.0¢ | $64.48K | 530K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 90026 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 262135 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 90026 | 0.110 |
2 | 80000 | 0.105 |
7 | 516932 | 0.100 |
1 | 10111 | 0.099 |
2 | 250000 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 262135 | 6 |
0.130 | 3000 | 1 |
0.135 | 50000 | 1 |
0.140 | 40000 | 1 |
0.145 | 115000 | 2 |
Last trade - 12.05pm 05/07/2024 (20 minute delay) ? |
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FLC (ASX) Chart |