The reason they made the offer so cheap is because the managing director and one other director are the sub underwriters, as disclosed in the anouncement.
This is a way for the managing director to pick up cheap stock (up to 10m shares), and the other director to increase his substantial holdings. This is all at the cost to the shareholders. They obviously hope that no one picks up their entitlement.
I am certainly picking up my entitlement to enable me to average down, and hopefully we might see better results in the future, becasue at the moment the results are no where near the prospectus indications.
The reason they made the offer so cheap is because the managing...
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Last
$1.94 |
Change
0.020(1.04%) |
Mkt cap ! $272.6M | |||
| Open | High | Low | Value | Volume |
| $1.92 | $1.94 | $1.90 | $420.4K | 219.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 316 | $1.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.94 | 4703 | 1 |
View Market Depth
| Last trade - 16.10pm 31/07/2025 (20 minute delay) ? |
| XRF (ASX) Chart |