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5.4¢ central petroleum limited

"Why would management tell the world what a terrible position...

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justcurious

332 Posts.

17

26/05/17

06:53

Post #: 24921675
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Originally posted by awarrumbungle ↑

Have you all considered that a CEO and Board have a fiduciary responsibility to their shareholders. Why would management tell the world what a terrible position the company is in? i.e. RC before scheme is binding.

It would deflate the share price, reduce confidence of the lenders, lessen the likelihood of a takeover and make raising capital expensive.

It is another matter entirely to have a binding offer on the table and then be realistic about the future to shareholders so they can make an informed decision.

There is nothing strange about that - in fact it's what you should expect.

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"Why would management tell the world what a terrible position the company is in? i.e. RC before scheme is binding."

Because if it is price-sensitive then the ASX requirement of continuous disclosure kicks in. I don't think I'm alone in feeling lied to by Cottee (either before the offer or since, I'm still having trouble working out which). Either way, I'm not happy about it.

CTP Price at posting: 17.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 5.4¢		Change 0.001(1.89%)		Mkt cap ! $40.24M

Open	High	Low	Value	Volume
5.3¢	5.4¢	5.3¢	$4.518K	84.53K

Buyers (Bids)

No.	Vol.	Price($)
1	28332	5.3¢

Sellers (Offers)

Price($)	Vol.	No.
5.4¢	31507	1

View Market Depth

No.	Vol.	Price($)
1	28332	0.053
4	328254	0.052
3	554313	0.051
4	375000	0.050
3	40418	0.041

Price($)	Vol.	No.
0.054	31507	1
0.055	100000	1
0.058	100000	1
0.060	99559	2
0.062	11500	1

Last trade - 16.10pm 11/11/2024 (20 minute delay)

CTP (ASX) Chart

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