roc is rooted, page-16

Well a couple of weeks later, the share price has fallen ... so what has happened?

Well with 80 million rights being issued, people have had to choose between keeping the rights, and paying $2.70 for their new shares, or trading their rights or existing shares.

In terms of "supply and demand", this was bound to have downward pressure on price because of the increase in supply.

I previously bought at $3.64 and $3.50 giving me an average purchase price of $3.57 per share. With the rights issue, my average purchase price would have worked out to be $3.33.

But I have bought MORE rights today at 35cents. This will give me a "dollar averaged" price of $3.24 for all my shares.

Admittedly this is still above the current share price, but if you do your research you will find everyone seems very positive about this company.


I previously stated that we may have to wait for a couple of weeks for the share price to settle down ... that barely got us to the end of rights trading ... a couple of months might have been a bit more realistic