3 announcements in the last 2 weeks (7, 14, 20 Feb).
Maybe an attempt to support the share price & spark market interest prior to a placement.
With their 15% capacity they could issue 7,729,625 new shares under a placement without shareholder approval. At say 26c per share, this would raise just over $2m before expenses.
They could go for a rights issue and attempt to raise more (no shareholder approval required for a rights issue) but this is a more detailed/longer process.
trading halt, page-5
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Last
1.1¢ |
Change
0.001(4.76%) |
Mkt cap ! $29.39M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.0¢ | $5.972K | 549.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 7578545 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 1519771 | 3 |
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| Last trade - 13.01pm 18/11/2024 (20 minute delay) ? |
| CRI (ASX) Chart |