Taking .28c at the announcement and a 30% dilution, the shares are valued at .196c. So the spp at 20c is actually a good deal for management not shareholders, they are getting a premium. I think you will be able to buy them on-market for around 19c-19.5c shortly. I think the market sees this as well.
Also IF the price struggles upwards, it will come against significant headwinds as the bigger holders start to return their excess to the market. Normally they will take up an offer (usually being a good deal..perhaps not this time) and then reduce on market to bring their portfolio back into balance.
Time will tell but trading thus far is very ordinary. Todays open looks very sick indeed.
dilution
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.237M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 13664897 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 3626406 | 5 |
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| Last trade - 16.12pm 26/07/2024 (20 minute delay) ? |
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