Well as part of the acquisition of EM Solutions, 4.27m shares were issued on 11 October. The acquisition announcement on 1 October stated the shares "will generally be subject to a six month escrow period" - I'm unclear what "generally" means.
The 3B notice dated 11 October confirming the allocation of the 4.27m shares "to the 19 vendors of EM Solution Pty Limited as per the Share Purchase Agreement dated 30 September 2019", makes no mention I can see of any escrow conditions. The notice also confirms that the shares were issued on the basis of a notional share price of $3.98.
So maybe the escrow conditions are in the Share Purchase Agreement which I don't think we've seen. If - and I repeat if - the new shares aren't escrowed, it's quite possible that one or more of those "vendors" receiving the shares has decided to cash in what would be a reasonable windfall based on their notional allocation calculation value of $3.98.
Just a thought from a suspicious mind!
EOS Charts, page-54
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Last
$1.76 |
Change
0.015(0.86%) |
Mkt cap ! $339.5M | |||
| Open | High | Low | Value | Volume |
| $1.74 | $1.78 | $1.74 | $975.7K | 554.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29564 | $1.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 6194 | 3 |
View Market Depth
| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
$1.77 |
Change
0.015 ( 0.79 %) |
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| Open | High | Low | Volume | ||
| $1.75 | $1.79 | $1.75 | 94115 | ||
| Last updated 15.59pm 30/04/2024 ? | |||||
| EOS (ASX) Chart |