I say that because the price is at par even before the rights start trading.
I will have a nibble at 0.015 cents. If it doesn't get there then I'm wrong about the flood of stock v demand equation.
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Rights Trading begins today I believe, but my broker [Jardens] shows no trades, nor any buyer or seller depth. I would have thought there would be at least some offers to either buy or sell Rights. Can anybody shed some light on this? Is anybody aware of any trades?
NTLRG up and running but no depth yet
Suppose brokers will catch on
ASB allows you to place order
Hi PIB.
The Rights Offer timetable is for entitlement notifications from tomorrow (11th). Why the rights trading date is the way it is, 2 days earlier, is a quirk of the listing rules as far as I can tell. The record date is today.
John Upperton
NTL Director
I think it's different for those with no position or baggage to those who may come in later once the dust has settled.
Those who have a stake probably heavily out of the money need to back it to have a chance of getting their money back or better, or potentially worse just to be balanced.
The plant is key, hopefully it's in 'working' condition otherwise they are back to finding something else.
With the concentration of Shareholding in the top 10 it's pretty likely they will have a successful capital raising I.e raise at least the $2M and I suspect possibly double that amount.
Good luck to all, like Toddy I will continue to monitor.