Can some one explain to me why the official Australian Government money rounding policy doesn't apply to disallowed. The midpoint or above gets rounded up to the next denomination.
I understand that the ASX goes to 3 decimal places. (can anyone clarify this)
Ego finishes every day with a .0045 sale which gets rounded down to .004 which artificially keeps the SP down and negative. Should it not be rounded up to .005 as would be the case if I made a similar purchase at Woolies.
The ASX doesn't show EGO at .0045 so it should show the closing price at .005c under the rounding up policy. The midpoint or above gets rounded up to the next denomination.
Just a small observation and I know I'm splitting hairs, but the rounding down action is certainly helping those keeping the price down.
And as for the Board being all hooked up on the 25% spread between .004 and .005, Get the price back to .018c or above and the spread will only be 6% or less which is not a problem.
JMHO.
EGO Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
