AFT Pharmaceuticals

**percy** · 10-06-2020, 05:34 PM

Originally Posted by trader_jackson

CRG was always going to sell out - but not at $2 or $3, and possibly not at sub $4 either.
The founder still owns 69%, when taking into account other management shareholdings, this is in excess of 70% - I don't know of any of those companies above that have a founder/management owning well in excess of 2/3rds of the business with a founder still with the business since day 1 (over 20 years ago) topped off by the fact this business has grown virtually entirely organically since day 1 (not a roll up or via acquisitions)... a big (ish) sell down by somebody is almost overdue in some ways!
So yes, I would confidently say "this time is different" to all of the examples you have provided above, in fact, I reckon it is borderline insulting comparing this sell down to those company's sell downs.
Nice that retail shareholders get a bite at cheap shares via the SPP (not just a big placement to insto's with almost nothing left for other shareholders) - and given I doubt the founder and CRG will be participating via the SPP, it should be able to be shared around nicely.

I have asked my Craigs broker to reserve shares for me should they receive any in the placement.He does not know whether they will get any at this stage.
Always impressed with their product displays in chemist shops I visit.Always by the counter in prime positions.
Their Crystaderm is great for small skin issues.Even keep an extra tube in the car.

**Rossimarnz** · 10-06-2020, 10:22 PM

The offer through Jarden was for bids from $3.65 up to a maximum strike from of $3.90. Will wait and see if I was successful

**winner69** · 11-06-2020, 06:35 AM

Originally Posted by BlackPeter

Amazing - how altruistic and nice of them they sell lots of shares down to increase liquidity. These big share holders are really just thinking about the benefit of the wee guys - don't they?

Just trying to remember previous sell downs in order to support the wee retail shareholders:

CBL insurance (sell down somewhere around $2.40 - now worthless)

OCA (sell down at $1.10 and later at $1.20)

TRA (sell down from memory somewhere around $1.90)

Trilogy - partial sell down well above the later takeover price

While two of the examples are still around and at least one of them (OCA) might do long term really well - In all cases would shareholders have done much better if they would have sold at sell down time and picked up some shares later.

Ignore at your peril if big share holders sell out ....

Discl: neither short nor long ...

Might be right BP but you shouldn’t be so down on a growth company.

I’m happy with my sub $2 shares that tj talked me into.

**trader_jackson** · 11-06-2020, 09:18 AM

Issued at $3.75 - not bad at all. Welcome new shareholders, exciting to have a few more Aussies interested and on board... bit like XRO, they probably understand AFT a bit better than NZ shareholders do (and value it accordingly)... after all, AFT's biggest market is Australia.
I'll be participating in the SPP at $3.75.

**macduffy** · 11-06-2020, 09:48 AM

I tendered in the placement at $3.65 and $3.75. Now to see if I get any, otherwise the SPP!

**ziggy415** · 11-06-2020, 10:59 AM

Originally Posted by macduffy

I tendered in the placement at $3.65 and $3.75. Now to see if I get any, otherwise the SPP!

Roughly how many more shares will be issued...is it approx $12 million worth

**macduffy** · 11-06-2020, 11:28 AM

Originally Posted by ziggy415

Roughly how many more shares will be issued...is it approx $12 million worth

Yes.

http://nzx-prod-s7fsd7f98s.s3-websit...424/324175.pdf

**Rossimarnz** · 11-06-2020, 11:36 AM

I got scaled back to 45% of what I bid for. The final strike price was not a limiting factor in the scaling for me as my bid price was 'at strike' up to the $3.90 maximum price