I thought that to start with then looked at the numbers. It did not make a lot of sense to me anyway to be buying for entitlement.
A 1 / 6 rights issue means you are only entitled to take up 16.6% [ of what ever you buy on market ] at the cheaper price of $0.055. Even after taking into account the free option for every 4 shares that are subscribed for.
Buying large volumes on market to just obtain the entitlement and in the process pushing up the price to do so seems a rather stupid way of securing stock to me.
patersons not dumping....yet, page-24
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Last
1.4¢ |
Change
0.002(16.7%) |
Mkt cap ! $26.83M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.2¢ | $78.51K | 5.954M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1308757 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 1301690 | 5 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| ARV (ASX) Chart |