Only one scenario bothers me scott and I've repeated its mechanics often enough, it hasn't changed . An unconventional TO is one where there is no bid, instead there is a steady erosion of share holder equity in favour of a predator. It is unpleasant, unpalatable and perfectly legal. The springboard is an acquisition of a stake in the company that exceeds the TO full bid thresh hold, which IMC is about to do (I'm not saying they are bent on a TO). I understand that my scenario sounds very negative compared with management's positive view of IMC's 'investment' in the company. I want to keep the scenario in the discussion because it has the potential to accelerate value destruction and i believe it brings a high enough level of risk for holders to consider a no vote. As i have stated before I do not believe that a no vote will mean insolvency, both IMC and management have far too much at stake to let that happen. A loan would not require a SH meeting and that's what i believe will go ahead if the vote is no, without the accompanying unfair transfer of equity.
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Last
19.8¢ |
Change
-0.003(1.25%) |
Mkt cap ! $324.6M |
Open | High | Low | Value | Volume |
20.5¢ | 20.5¢ | 19.5¢ | $89.68K | 441.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
30 | 1229725 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 812964 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
30 | 1229725 | 0.195 |
22 | 1976596 | 0.190 |
13 | 769657 | 0.185 |
16 | 925520 | 0.180 |
30 | 1146068 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 812964 | 2 |
0.205 | 1474279 | 14 |
0.210 | 1596139 | 13 |
0.215 | 217392 | 4 |
0.220 | 275000 | 2 |
Last trade - 14.42pm 22/07/2024 (20 minute delay) ? |
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