See Item 6.9, company wants to immediately on-sell the Tranche 1 conversion shares without shareholder notification. Look-up the term convertible arbitrageurs.
"New strategic cornerstone investor"
Really... let the games begin.
Also note the terms for redemption and price ($1) and clause in relation to LAMP approval or rejection events.
If price goes to $3 in 6 months then these guys make a killing, if price falls to 2c they still get face value of $1 + interest.
On plus side there is a floor between $1 and $1.25 between now and LAMP approval and funds secured. To me this is a last role of the dice for Lynas and any further issues in Malaysia will spell disaster. Given there will be 40M shares flushed into the market there will probably be some volatility in the short term.
See Item 6.9, company wants to immediately on-sell the Tranche 1...
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Last
$7.02 |
Change
0.000(0.00%) |
Mkt cap ! $6.561B | |||
| Open | High | Low | Value | Volume |
| $6.92 | $7.09 | $6.86 | $26.51M | 3.784M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5100 | $7.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.04 | 8902 | 1 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| LYC (ASX) Chart |