The AFR is reporting that the institutional capital raise has been increased to $30m due to strong support. This mornings announcement had it at $25m. I assume given only $20.7m could be done under CYG’s current placement headway, the additional $5m will be conditional on shareholder approval.
Existing shareholders should be arguing for an increase in the $2m limit on the SPP to avoid being diluted more than originally anticipated. Given the strong increase in pro forma EPS from the acquisition, the headline of minimal discount to last Friday’s share price is misleading. Retail shareholders need to seriously consider whether they participate to the maximum extent possible.
Ann: Coventry Launch announcement, page-2
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Last
$1.41 |
Change
0.010(0.71%) |
Mkt cap ! $155.6M | |||
| Open | High | Low | Value | Volume |
| $1.41 | $1.41 | $1.41 | $1.059K | 751 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | $1.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 4923 | 1 |
View Market Depth
| Last trade - 15.51pm 07/06/2024 (20 minute delay) ? |
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Last
$1.41 |
Change
0.010 ( 0.36 %) |
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| Open | High | Low | Volume | ||
| $1.41 | $1.41 | $1.41 | 6799 | ||
| Last updated 15.51pm 07/06/2024 ? | |||||
| CYG (ASX) Chart |