I did consider that, but the AGM is on the 23rd and that's when...

First 872 Last

Share
Profile

Follow
MasterPing

178 Posts.

98

15/12/20

09:00

Post #: 49577684
Share

Originally posted by freshtesh: ↑

Thanks for this - very helpful.

However I am not totally convinced the 15 day count will start on the 2nd Dec. I suspect it might start on the 3rd of December. Reason is on the 23rd they might wait for the closing price on that day and then count back including that day in the VWAP. So if VWAP starts on the 3rd of Dec, then looking ahead at best case scenario, if we average $0.35 for the next 6 trading days, then VWAP will be $0.27, with a 25% discount equals $0.20.

Let's say this happens.

I noticed there is a note saying there will be a maximum amount of raised capital to the value of $6m. Is that right?

So, $6m divided by $0.20 equals approximately 29m shares.

How many shares does CPH currently have available? What is 29m shares as a percent of the current number of issued shares?

Expand

I did consider that, but the AGM is on the 23rd and that's when the resolution is made, and that will be during business hours. So i just didn't think it was realistic. Also it says here from the announcement on the 26th of November

"...on a maximum amount to be raised of $6,000 000, at an issue price which will not be less than 75% of the 15
trading day VWAP immediately before the date on which the issue price is agreed by the Company. Accordingly, the amount of 250,000,000 Shares set out in this Appendix 3B is indicative"

CPH Price at posting: 25.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply