Who knows what the reasons were for conservative old otto to decide on such a generous capital return ?
One thing i hope is the 6c has brokered some sort of deal for the major share holders with 400,000,000 odd shares to hold tight for a period.
They cant even buy back in can they because they already the maximum without making a TO ?
One thing is for sure they would have been in for along process trying to dump 400,000,000 shares and retain some sort of value and in reality virtually impossible to get out in any reasonable time. Whereas now with the possibiltiy of a 3c to 5c Sp and the increased trading and volume that will come with that SP they r now in a position to move volume.
Not totally against the buyback just think some amount as i have said before should have been retained for a buyback for x % to all holders, like a reverse placement at a premium to the current SP with the view of knocking 100m - 200m shares off the register.
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1.3¢ |
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Mkt cap ! $62.33M |
Open | High | Low | Value | Volume |
1.3¢ | 1.3¢ | 1.2¢ | $11.13K | 877.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 7533795 | 1.2¢ |
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Price($) | Vol. | No. |
---|---|---|
1.3¢ | 11016129 | 18 |
View Market Depth
No. | Vol. | Price($) |
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7 | 7533795 | 0.012 |
11 | 6080676 | 0.011 |
2 | 2050000 | 0.010 |
1 | 100000 | 0.009 |
2 | 245123 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 11016129 | 18 |
0.014 | 5287214 | 10 |
0.015 | 6381000 | 14 |
0.016 | 700004 | 2 |
0.017 | 264764 | 2 |
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