So now we see those who obtained shares at $1.15 (18m shares) or $1.08 ex-rights dish them out to the happy punters out there for a quick profit.
Good on them!
Great if you are favoured to receive a few millions of them for a quick flick!
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You might have a problem finding some mug to buy a couple of million shares in this dog though
Funny thing. Bought my first STU shares in Dec 1998 @ $1.55
Sold some on 4/3/2005 @ $5.55 which I think is the highest STU shares have ever sold for.
Dividends over the years have been OK but my net return (capital + dividends) on STU to date is only 1.7% per annum which is appallingly pathetic compared with 13.1% from RBD, 10-15% from property, & etc.
Haven't kept up with the company well enough in recent years to really know what went wrong. Don't know what to do about the rights issue. Will probably just toss a coin.
Guess those got their shares in the placement at $1.08 equivalent will be happy to continue to lighten up - especially with the impending announcement any day now on the penalties to be imposed on STU re the substandard mesh steel?
$1.20 is still a nice healthy 11% profit for a week - that's 572% in a year if you can get sweet deals alike this every week!
I'm in the same boat. But today with the price sinking ever closer to the issue price, I am thinking that I will park what I have in the bottom draw for a few years.
With no divis this year and a bit unknown next, along with the Instos who will be selling for a bit of profit for a long time to come, why throw good money after bad?
Hi, just saw the announcement from Milford on 10-Aug 2018 where they declared:
...........
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure:
On-market purchases of 6,081,917 ordinary shares, for total consideration of $7,016,509.35 was made during the period 10 April 2018 – 10 August 2018.
..........
Average price works out just above 1.15, but the market never traded below 1.22 in
that period. So they obviously got themselves around 6m shares in the discounted
placement for 1.15 and declared them misleadingly as "on-market purchases".
Is this legal?