seems like the big "dump" of shares has stopped?
Much quieter on ASX today.
If the selling yesterday was triggered by s/h wanting to swap-out of old shares, in order to take-up the SPP with its attaching options, then there were approx 120m+ shares traded in total on ASX and ChiX - so IF the SPP was the reason, then the selling would need to have been made by many smaller shareholders - because their is a maximum of $30,000 per shareholder for SPP.
Thus $30,000 is about 4.285m new shares is max per s/h to takeup.
So 120m traded equals about 28 shareholders selling down - or parts thereof.
ie no point in a big s/h selling 50m shares to takeup a max 4.285m shares in SPP?
IXR Price at posting:
0.7¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)