No, there isn't.
That claimed justification is a complete fabrication, designed to calm us all down and ensure we don't raise hell about the fact they still have a shedload of our money.
The rights issue results announcement https://www.asx.com.au/asxpdf/20200827/pdf/44m0ljlcpyyh51.pdf confirms that there is less than $500k of shortfall stock to be doled out, against $2m of applications.
But wait, there's more. Half of the shortfall is going to related parties in a cozy deal - see s4.8 of the rights booklet - https://www.asx.com.au/asxpdf/20200729/pdf/44kxtkwgwjczvx.pdf
So in truth there is just over $200k to be allocated out, against $2m of applications.
If you think you're getting anything more than a few crumbs, you're deluded. And if you think they're holding on to our money for good reason, again, you're deluded. They just want to keep the interest on it, as the rights booklet says they can.
No, there isn't.That claimed justification is a complete...
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Last
2.1¢ |
Change
0.001(5.00%) |
Mkt cap ! $24.09M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 1.9¢ | $76.98K | 3.917M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 10000 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 2.1¢ | 1865221 | 6 |
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| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
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Change
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| Open | High | Low | Volume | ||
| 2.0¢ | 2.1¢ | 1.9¢ | 1222842 | ||
| Last updated 15.49pm 07/06/2024 ? | |||||
| BPH (ASX) Chart |