You said it yourself, shareholders will have a 3 for 1 option at 1.02. So where the incentive for new investors to buy in unless its at a bigger than usual discount to NAV?
For arguments sake, the NAV is $1 and it trades at a 10% discount at 90 cents. No dilution threat
Lets say the NAV then goes to $1.30, why would the discount remain at 10% given at 1.17 options are being exercised at 1.02?
Thus the NAV will need to be above 1.30 for a 1.17 share price because of the option made available to existing shareholders.
Like I said, this option will act as a headwind in the share price.
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Mkt cap ! $64.78M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 2100 | 47.0¢ |
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Price($) | Vol. | No. |
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1 | 2100 | 0.470 |
1 | 10000 | 0.465 |
3 | 150100 | 0.450 |
2 | 3514 | 0.430 |
1 | 7500 | 0.400 |
Price($) | Vol. | No. |
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0.480 | 47850 | 4 |
0.485 | 35095 | 2 |
0.490 | 10225 | 1 |
0.495 | 14670 | 1 |
0.500 | 56253 | 4 |
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