So barring someone else putting in a competing bid, Simon is to purchase the major part of the company for $7,000,000 AU. Now hold on a sec, they pay off $700,000 loan and pay out 15c a share (a lot of that will go to Simon anyway since he holds a lot of shares) that still leaves a lot of money in the bank, that will pay the directors fees for quite some while I guess.
But why not just do an MBO for 16c a share? Nice, clear cut, simple? Delist from ASX, save on costs?
Nope something's brewing here, a competing bid? An attempt to force somebody's hand?
Remember Simon already has a majority of the shares.
Obviously he is not happy with the current share price and his little buying spree, a while back, to try to boost interest showed that. Again the low volume is of no use to him if he ever wanted to sell a few %.
We live in interesting times one thing is certain the share price will be higher when dealing recommences.
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Last
16.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $49.04M |
Open | High | Low | Value | Volume |
16.0¢ | 16.5¢ | 16.0¢ | $32.01K | 197.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 442443 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.0¢ | 132250 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 442443 | 0.160 |
3 | 32166 | 0.155 |
5 | 81940 | 0.150 |
3 | 20396 | 0.145 |
1 | 9000 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.170 | 132250 | 3 |
0.175 | 6923 | 1 |
0.180 | 52716 | 1 |
0.185 | 44590 | 1 |
0.190 | 5969 | 1 |
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