Given that the stock closed at 9.7 the day before the announcement and the rights-issue price was 10, it is laughable to suggest that the rights issue would have still been oversubscribed had the announcement not been made on closing day, at 3:30pm. If anything the rights issue would have been a failure because most would not have taken them up as they could have bought the shares on market below 10c.
Anyone with half a brain would not send their money in early and wait to see what the price is at or close to the closing date, especially the big holders.
Some may be dumb enough to believe the BS but hopefully most will see it for what it was but I understand that things have to be spun in a positive way even if it defies logic. Numbers don't lie:
General Comments & Banter, page-14447
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Last
4.2¢ |
Change
-0.003(6.67%) |
Mkt cap ! $61.14M | |||
| Open | High | Low | Value | Volume |
| 4.4¢ | 4.4¢ | 4.0¢ | $129.8K | 3.111M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 424064 | 4.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.2¢ | 156168 | 1 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| AGY (ASX) Chart |