Agree to you, Decan.
The reason why Progen said to spend $20m for buy-back is simply 18.2M shares x $1.1 = $20m. The 18.2M shares are likely from the Institutional shareholders, such as Northcape (holds 8%?) etc.. and the Progen Boards very likely to use this buyback to win their supports. In fact, this 18.2M shares represents only 30% of the issued capitals of Progen (Total ~ 61M shares issued).
I think Progen will need a least another $15M~$20M for buy-back simply those smaller shareholders who hold the other 70% of PGL wants $1.10 as well. If 1/3 of these 70% wants $1.10 per share, then PGL needs to buy back another 14M shares, that is $15M. AVX will only get $35M, not $50M cash for them to spend.
If you are the shareholders of Progen, which one you will choose, $1.10 per share buy back or sell your share now at $0.725?!!!!!!!!
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Agree to you, Decan.The reason why Progen said to spend $20m for...
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Last
44.0¢ |
Change
-0.005(1.12%) |
Mkt cap ! $72.46M |
Open | High | Low | Value | Volume |
44.0¢ | 44.0¢ | 44.0¢ | $10.48K | 23.83K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 1124106 | 44.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
44.5¢ | 1389 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 1124106 | 0.440 |
3 | 145300 | 0.435 |
3 | 8500 | 0.350 |
1 | 2500 | 0.200 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 121719 | 5 |
0.460 | 16399 | 1 |
0.490 | 21811 | 2 |
0.500 | 2000 | 1 |
0.510 | 20000 | 1 |
Last trade - 10.10am 12/07/2024 (20 minute delay) ? |
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