Still digesting the news, but a back of the envelope calculation says that only approximately 190m shares have traded since the suspension. That means that 250 m shares at an absolute minimum are sitting on a loss.
The big question is: what will happen if a no vote occurs?
a) we go to court
b) a revised offer
If this is the best offer that management can get; then option a) is looking good. The fall in SP from 8.8 to 2.1 due to the suspension; plus our cash in hand is worth more than this 'offer' that places no value on the assets of the company. In my mind; it is a small compensation payout with the entity thrown back for free.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.581M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 18756810 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10711228 | 11 |
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| Last trade - 10.10am 02/07/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
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