AGY 7.50% 3.7¢ argosy minerals limited

You're mixing two separate ideas together.The 1,000 shares in...

  1. 90 Posts.
    lightbulb Created with Sketch. 19
    You're mixing two separate ideas together.

    The 1,000 shares in your account are rights, you haven't paid 10c for these yet. If you pay 10c to the company for these they will convert to AGY shares and no longer trade under the AGYRA ticker. Ie: You pay 10c per share for 1,000 shares and then can sell them for 10.5c per share currently. For the sake of simplicity I'm ignoring the time it takes for the company to accept the money and issue the new shares, check this mornings announcement for the timeline.

    If you don't want to convert them for 10c each, you can sell the rights to someone else. At this point you still haven't paid anything for the rights and they are traded under the ticker AGYRA, so the person buying them must first pay you for the right, then once they acquire the right they must pay the 10c to convert them to ordinary shares, as above.

    Effectively the company has given you rights to purchase new shares. If you don't want them, you can transfer that right to someone else who then has to pay the 10c issue price to convert the to ordinary AGY shares.

    Some more examples here:
    https://www.investopedia.com/investing/understanding-rights-issues/
 
watchlist Created with Sketch. Add AGY (ASX) to my watchlist
(20min delay)
Last
3.7¢
Change
-0.003(7.50%)
Mkt cap ! $53.86M
Open High Low Value Volume
3.9¢ 3.9¢ 3.7¢ $29.60K 771.0K

Buyers (Bids)

No. Vol. Price($)
6 1307152 3.7¢
 

Sellers (Offers)

Price($) Vol. No.
3.9¢ 60000 1
View Market Depth
Last trade - 16.10pm 08/08/2024 (20 minute delay) ?
AGY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.