You have highlighted our problem. Debt free PDN shares could return at too high a price for those caught by administration, to buy back in and get some money back. In your example, someone gets 1M of my shares for nothing and they open at 0.59 or $590G worth of shares. The market cap becomes approx. $1B. Not a bad earner for the ad hoc committee. Then why not encourage a takeover and get even more profit from the deal. It will be interesting to see the price set for the in house capital raise of $115M. If approx. 1.6B (98%0f 1.7B) shares are to be owned by the ad hoc committee, they would need to spend about 7c per share.
Share Price upon recommencement of Trading, page-2
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Last
$12.48 |
Change
0.060(0.48%) |
Mkt cap ! $3.724B | |||
| Open | High | Low | Value | Volume |
| $12.45 | $12.76 | $12.26 | $26.57M | 2.124M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6286 | $12.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.48 | 5038 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| PDN (ASX) Chart |