There should be a huge uplift in value of SRNOC this week. The company has changed how they can be converted. There should be an ASX announcement to follow confirming.
They are now accepting them weekly. The only reason they lagged was because prior it was once a quarter.
SRNOC 3.1c + 0.6c conversion gives 3.7c. The SRN are 4.9c. That is 1.2c of arbitrage on buying this week and converting before Friday. Close to 40% gain swapping options for heads.
I expect a large amount of buying in SRNOC once the company confirm the change of conversion terms.
SRNOC change of conversion terms
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.945M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2753258 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 17770590 | 13 |
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