For example.
Waratah Capital became a substantial shareholder for LRS during the recent CR (5.57% ownership) - (you need 5% to become a substantial owner).
But then with option conversion, their ownership was diluted back to 4.91% making them no longer a substantial holder.
This isn't great for retail shareholders as it means Waratah don't need to notify the market if they sell any of their shares (or buy any shares - unless they buy enough to tip them back over the 5% mark).
LRS General Discussion, page-6392
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Last
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $644.7M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 24.0¢ | 22.5¢ | $1.576M | 6.792M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 410510 | 23.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 961762 | 33 |
View Market Depth
| Last trade - 15.20pm 06/05/2024 (20 minute delay) ? |
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Last
23.3¢ |
Change
-0.005 ( 2.19 %) |
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| Open | High | Low | Volume | ||
| 23.5¢ | 23.8¢ | 22.5¢ | 2226289 | ||
| Last updated 15.39pm 06/05/2024 ? | |||||
| LRS (ASX) Chart |