ATM: prior to the announcement there 604 million shares on issue. They are issuing another 40mill.
Not that bad I suppose. Still there is dilution and inequality among shareholders
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ATM: prior to the announcement there 604 million shares on issue. They are issuing another 40mill.
Not that bad I suppose. Still there is dilution and inequality among shareholders
I'm only small investor compared to some investors who post here. I only have 5000 Shares in ATM, but I would have liked the opportunity to buy another $2000 worth at 50 cents.
I am also not impressed to see my holding being diluted, while I have to agree with Winner69, being a small investor has little clout in matters such as this instance they do want they want to do. But: the CEO / board needs to understand that they need small shareholders on their books, the likes of ATM would not be able to list on the NZX without us.
I also am disappointed that I didn't get the chance to buy more shares. I also am a small shareholder (33,000 shares) but I would happily have bought another 33,000 shares at 50 cents.
And like others I'm disappointed that the shares were sold at such a huge discount to market value
Rights issues aren't that hard. Pretty much a template document though there are additional costs involved and does take slightly longer than the 3-4 days this has taken.
The NZX (as a market operator) should try to discourage these discounted placements to the rich to try and encourage the small guys into the market.
The fact is, this is the way it works, us small guys just have to deal with it.