Hopefully the share price will start rising again after 26 June 2024. I’m assuming it’s not a good look for the company if the share price rises significantly before the approval of the placement of shares at 4.5cents with attaching options to directors.
One of the questions to definitely ask during the upcoming webinar is :
1) why did the recent placement have to be at such a discount to the last capital raise of 9 cents and why was it necessary to also give free options with such a low exercise price.
2) why weren’t all shareholders offered the chance to participate in the capital raising. Yes, the process to do a placement to non sophisticated shareholders does take longer but I’m sure most shareholders wouldn’t mind waiting especially when the offer was at such a discount to the share price at the time it was announced and especially with the generous feee attaching options as well.
Let’s all hope that’s the only thing holding the share price back at the moment
EQR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
