I have gone back and read the information on the capital raising in May this year and note that the takeover panel forced the underwriters and sub-underwriters (who were related entities) to re-offer any shares they held above 20% to ordinary shareholders at 1c. This was done to avoid taking control of the company without a formal takeover.
Now that the dust has settled, there is a possibility that there will be a contest for control of the company. This may lead to a full takeover proposal. That would explain the recent rush of news to the market to ensure that from a legal point of view the market and those seeking control have the same information.
It will be interesting on Monday to see how it trades.
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.843M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2084898 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 4614773 | 11 |
View Market Depth
| Last trade - 16.21pm 19/09/2025 (20 minute delay) ? |
| DDT (ASX) Chart |
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