Well, thats not exactly the case...
It could be retail buyers buying as they know:
A) the scheme will fail (phase 1) and B) JPower will cross the threshold of 50.1 in the off-market take over bid (phase two) but will not be able to reach the 90% required to consume the company
This is very likely in my opinion.
This would leave JPower as a large holder of GNX owning anywhere from 25-65% + Skip owning 20% and thus leaving a smaller portion of shares available and trading on market. Naturally, this scenario when paired with the fact that JPower are now running GNX and they have a lot of access to equity could/should see the share price of GNX rise way beyond 27 cents.
Not to mention, KPH will be online soon too.
& JPower (if they really want full control of GNX) will likely come back to those remaining shareholders and offer more.
Other possibility is Skip are buying up, attempting to get there 25% which would allow them to block both offers/phases offered by JPower.
Well, thats not exactly the case...It could be retail buyers...
Add GNX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
26.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $367.0M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.0¢ | 26.5¢ | $1.537M | 5.700M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 31741663 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 15648906 | 150 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
26.8¢ |
Change
0.000 ( 0.93 %) |
||||
| Open | High | Low | Volume | ||
| 26.8¢ | 27.0¢ | 26.8¢ | 416679 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| GNX (ASX) Chart |