Question: was the prospect of this cap raise/underwrite bought up at the AGM? If not, why not? These things take a while to sort and the Board must have known.....
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Question: was the prospect of this cap raise/underwrite bought up at the AGM? If not, why not? These things take a while to sort and the Board must have known.....
The only ones in the loop are the board, C management, organising broker(s) and people who get info through 'chinese walls'. One or two on these threads in that category. Shareholders are the last to find out, as they are just 'flies' according to FB
Having said that it was patently obvious that this was coming, despite the Sergeant Schultz denials of management
https://www.odt.co.nz/business/pacif...enty-questions
Seems like plenty of good questions were asked but no real answers were given.
The question as to why Dunedin's Southern Health Board has not adopted CxBladder for use is very very very telling. Big red flag.
https://www.odt.co.nz/business/pacif...se-213-million
Some choice quotes in the article!
Excerpt 1 : "On the question of ``shareholder fatigue'', Mr McIntyre said if shareholders opted not to participate, they would see the value of their shares further diluted, given 66.6 million were being issued."
Comment : Bad advice! Shareholders would have been better off not to participate in the other capital raise as with every raising, the overall values of their shares keep dropping!
Excerpt 2 : "Forsyth Barr broker Lyn Howe said the cash injection was necessary and investors continued to require patience with Pacific Edge."
Comment : Patience? What wonderful advice from a broker!
Excerpt 3 : "Yesterday, Mr McIntyre said it ``came as no surprise'', Pacific Edge had to again go to shareholders, noting some ``earlier stage'' shareholders would be ``suffering capital raising fatigue''."
Comment : Wonder if he and his firm have been advising clients to get the hell out given 'NO' surprise.
Why buy @ 32c when you can get them at sub 20c?
I am trying to figure out the motive of the underwriter... the last one, but also this one. Surely they are taking a huge punt at 32 because I think many are going to let their rights lapse, even if the sp is above 32 come "money" day. And trying to prop up the share price at 32-36 is just digging a bigger hole for yourself in my humble opinion. Or they do believe the story and think that 32 is a great entry point.
I have a feeling insto's will be doing under cover unloading to reduce exposure.