Walking out the door to dinner...so no time to go back into mt trading stuff.
By memory, the rights issue resulted in a 0.21 adjustment to the register.
The adjustment which impacts the running price seen on the charts relates to the difference between the rights issue price and the closing price of the stock prior to the ex date.
The adjustment in this case I believe equates to 1.5c...or in other words, we see a 22c high become 20.5c.
A rights issue results in an adjustment to the trading price not unlike a share consolidation or split. If a stock traded at 20c, then was split into 2 for every one share, the new adjusted price would be 10c on the charts due to the adjustment. Likewise, a share consolidation of say 1:10 would result in an upwards adjustment to the price.
Corrected charts show the adjustment to the entire price record...some however, only show the adjustment from the date it occured...which can be entirely misleading when it comes to charting from historic pricing.
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
