Awaiting response from the board.
MAY have 1.6 billion shares on issue and will issue further shares for the acquisition of MEL at 4 MAY for 1 MEL share.
MEL has 392.9 so times 4 = 1.5716 billion additional MAY shares taking the issue in excess of 3 billion.
What usually happens then is a reduction in share cap and shareholders are out of pocket further, I do not think this is in the best interest of shareholders and hopefully the board will advise against this
News: MEL Melbana Energy Announces Conditional Intention To Make A Takeover Offer For Metgasco, page-2
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Last
0.4¢ |
Change
-0.001(20.0%) |
Mkt cap ! $5.790M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $10.11K | 2.527M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 11541399 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 4483831 | 5 |
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| Last trade - 12.40pm 12/07/2024 (20 minute delay) ? |
| MEL (ASX) Chart |