Kegster, I disagree I dont think it has been missed on this platform at all. SPP was initially supposed to raise 800k through the SPP as I recall. Managements big mistake was to accept oversubscriptions to the tune of 3 bricks full well knowing that existing shareholders would liquidate their existing holding and pick up 10-12c per share on the SPP - very short term thinking for the shareholders that did this but who can blame them?
TPT management stated initially that there would be no provision for oversubscriptions - they then opened the floodgates. Unless the really required the additional funds they have created an unnecessary problem resulting in the selling down from 44c to 37c as we see it today.
I dare say we still have an overhang and could expect selling to continue this week.
- Forums
- ASX - By Stock
- whittiing away the overhang
Kegster, I disagree I dont think it has been missed on this...
-
- There are more pages in this discussion • 17 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TPT (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online