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8.33%

11.0¢ pacgold limited

I sold at 5.2 If Hanking doesn't achieve the 50% this could...

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152 Posts.

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02/03/18

13:38

Post #: 31481230
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Originally posted by Ece411 ↑

I can only speculate that a lack of information and confidence in management has meant that some traders will simply not rush a buy at 5c and sell at the 5.75c offer. I would also doublecheck the fine print of the takeover offer - was there a cut off date? Anyway, more experienced types than me might have sorted this out, and I know a few here who like this trade, but there are very few buyers at this level because there is no strong confidence that the 5.75c offer price is guaranteed IMHO.

One POSSIBLE explanation for not being sure that the 5.75 offer will come is that those in the know have a belief that the minimum 50% equity trigger for starting the offer will not be set off (See Schedule 2 of the offer document item 3a) In this scenario you buy in at say 5c but the offer is not triggered and you are stuck without a 5.75c offer from Nanking and the share price probably pulls back.

cheers

ece

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I sold at 5.2

If Hanking doesn't achieve the 50% this could easily pull back to 4c or lower as it appears nothing is being done to secure a toll agreement.

That's exactly why I'm out

PGO Price at posting: 4.9¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 11.0¢		Change -0.010(8.33%)		Mkt cap ! $9.255M

Open	High	Low	Value	Volume
13.0¢	13.0¢	11.0¢	$20.93K	178.3K

Buyers (Bids)

No.	Vol.	Price($)
1	10863	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
13.0¢	17418	1

View Market Depth

No.	Vol.	Price($)
1	10863	0.110
1	60000	0.105
1	61569	0.097
1	6000	0.091
3	24722	0.090

Price($)	Vol.	No.
0.130	17418	1
0.140	1100	1
0.150	29250	2
0.160	70896	1
0.185	150200	2

Last trade - 15.57pm 01/07/2024 (20 minute delay)

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