Australia's largest stock trading and investment forum Australia's #1 stock forum

ADN

Click for more information

0.00%

0.8¢ andromeda metals limited

Maybe reread the announcement and then correct your post

First 44548 Last

Share
Profile

Follow
SignOfTheTimes

2,021 Posts.

1284

26/08/24

17:15

Post #: 75379577
Share

Originally posted by szopen: ↑

My opinion on the competence of the ADN management or rather lack of competence has been demonstrated again today.

Before this CR there were 3,110,270,932 shares on issue.
They were allowed to issue up to 15% of new shares, which is 466,504,639 new shares.

In the CR to sophs they have issued 283,333,344 shares at 1.2 cents raising close to $3.4 million.

That leaves only 183,207,295 shares available for placement to existing shareholders at 1.2 cents which if is taken in full will raise just under $2.2 million.

Not $3.1 million stated in the announcement. I would say that today’s announcement would fall into misleading category or demonstrate total lack of understanding of ASX rules.

It’s unlikely that shareholders will stump up the money at above current price so they will do another CR for the remaining available shares to sophisticated investors as per announcement.
At what premium to current price?

Expand

Maybe reread the announcement and then correct your post

ADN Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
3 Upvote

1 Great analysis

Reply

Top Stories

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

FFM

Firefly positioned for copper growth in Canada ahead of resource update

CC9

Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

There are more pages in this discussion • 149 more messages in this thread...

First 44548 Last

Add ADN (ASX) to my watchlist

(20min delay)
Last 0.8¢		Change 0.000(0.00%)		Mkt cap ! $27.14M

Open	High	Low	Value	Volume
0.8¢	0.9¢	0.8¢	$203.7K	25.36M

Buyers (Bids)

No.	Vol.	Price($)
20	18773078	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
0.9¢	14792155	13

View Market Depth

No.	Vol.	Price($)
20	18773078	0.008
74	32498751	0.007
54	21107989	0.006
20	12971789	0.005
7	8025000	0.004

Price($)	Vol.	No.
0.009	14792155	13
0.010	9742677	13
0.011	14396522	8
0.012	14095921	7
0.013	2597253	4

Last trade - 16.10pm 03/10/2024 (20 minute delay)

ADN (ASX) Chart