Am I correct in thinking shareholders will not know the final price when they apply? "Issue price to be determinedfollowing the close of the offer on25 June 2015" Is that normal practice?
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Indeed. MRP did something similar (albeit with a full prospectus in a well established company) where you also knew the range of the price you might pay ($2.40 to $2.80 or something like that if I remember correctly).
However, this is a bit different... You've got a market right now where nobody wants to pay more than 40 cents (1.6 cents in pre-consolidation price) for VML shares. However, people who want to do something more useful with their shares still have to sell on market. This pushes the price down.
Meanwhile, if you do want to buy more VML shares (as a shareholder) then why would you bother with the SPP at a max of 40 cents when you can buy below 40 cents right now?
So who is stronger? The people who want to put their money somewhere useful for 5-6 weeks, or the people hoovering up the VML shares? :D
Indeed.
I guess another GLOBAL MEGA CONTRACT (that you're not allowed to know the details of) will have to be employed to make the deal sweet.
Thing is, do they have another one to announce? Or did they use that GLOBAL MEGA CONTRACT (McDonalds, that you're not allowed to know the details of) to set a nice floor above their insider-and-mates 1 cent placement a few months ago?
Reminder Shareholder meeting today.
Location:
You should allready know.
Date/Time:
22 May 2015 commencing at 2:30pm
Haha
"
The Board is pleased to advise that all resolutions to be considered at the
Special Meeting were approved.
Yours faithfully?
Phil Norman
"
Typical of ASB Securities to do something like inserting a question mark. It's not here:
https://www.nzx.com/files/attachments/213523.pdf
But at least they've just changed their password requirements so that you can have up to 100 characters instead of the 8 that it has been for years.
The directors & co are getting their shares at 40c no matter what right?