"Wouldn't PALA want the SP to go much higher on SML ann if they wanted to stay on board - of course. They didn't, so they don't want to stay"
Zubana - PALA has not done any substantial selling since the SML announcement. At most, it could only have sold up to 4.3M shares (without triggering the requirement for a substantial holder notice).
In fact, the last sale (according to the most recent 'change in substantial holdings' announcement) was 3 April - two months ago and 3 weeks before the SML issuance. Their sales were pretty consistent before then - with substantial holder notices identifying sales between 12-17 Dec, 16 Dec-10 Jan, 31 Jan-27 Feb, 28 Feb-5 Mar and 14 Mar-3 Apr.
They also had plenty more opportunity to sell in the high 3's in early-mid April.
This all points to them concluding their selling for the time-being.
nice move, page-33
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Last
6.2¢ |
Change
-0.021(25.3%) |
Mkt cap ! $197.6M | |||
| Open | High | Low | Value | Volume |
| 7.6¢ | 7.6¢ | 6.1¢ | $8.401M | 126.7M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 2735758 | 6.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.3¢ | 494493 | 5 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| PEN (ASX) Chart |