O.W will have no problem getting to 20% and I agree with Bermuda they wont convert their options they will leave them sit as back up - they may even buy some more options if they come on market cheaply at some point in time.
O.W would simply buy the rights on market that have been sold at 1c or below and any extra they need they can get from the underwriter. I cant see what is going to catapult the S/P north - O.W want the product they dont care about the share price I doubt they will sell any of their stock on market so who is going to be the large buyer/buyers to drive the price up and what would be the catalyst be to buy now.?
I put a chart up a while back that showed the only significant price moves on CDU over the last 4 years have been driven buy M & G both buying and selling
What happened to the prediction that the rights would be in huge demand and all the rabbits released at the AGM would get the rights well into the money and the S/P north of $2.50 - clearly those predictions were way of the mark with millions of rights available at a fraction of a cent
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