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Originally Posted by whatsup
When you read the recent announcements regarding cancelled deals, one would have to think , have they been reckless with the purchasing or intended purchases over the last year or there abouts?
The more deals, the more fees.
That’s their modus operandi so hardly surprising.
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Originally Posted by Balance
The more deals, the more fees.
That’s their modus operandi so hardly surprising.
Agree but who pays for the forfeited deposits , millions and millions ?
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Originally Posted by whatsup
Agree but who pays for the forfeited deposits , millions and millions ?
Presumably Augusta.
Kinda like underwriting a deal which failed to go ahead.
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Originally Posted by Balance
Presumably Augusta.
Kinda like underwriting a deal which failed to go ahead.
They owned up to forfeiting deposits
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Balance - is that guy Francis still running the place
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Originally Posted by winner69
Balance - is that guy Francis still running the place
Yes, son of ... ( who said Chase ? )
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typical of an interesting* company to use a temporary covid19 law relaxation to progress their interests.
so even if you take up your full entitlement you will be 20% diluted? Sounds annoying. Still , raisin' cash is good.
take care out there.
*interesting = you know what I mean
Last edited by peat; 07-05-2020 at 12:24 AM.
Reason: dilution comment
For clarity, nothing I say is advice....
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I've got ~11500 shares, am I better to purchase my entitlement or not? I'm in for .88c a share, does this mean I'm diluted 37.5% if I don't buy and if I do buy I need spend ~3k and become 20% diluted?
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Originally Posted by thegreatestben
I've got ~11500 shares, am I better to purchase my entitlement or not? I'm in for .88c a share, does this mean I'm diluted 37.5% if I don't buy and if I do buy I need spend ~3k and become 20% diluted?
Leaving aside the point that capital raisings other than by way of prorata rights issues are always dilutive and generally not in the best interests of shareholders, if I still held shares, I would take up my entitlement to the max so long as the shares are trading reasonably above the subscription price for the new shares. The capital raising is gong to happen anyway so you might as well get whatever benefit you can from it.
Separate point. You mentioned the price you paid for your existing shares. With respect, I'd suggest that what an investor paid for something should not be a relevant factor in deciding whether or not to buy more or to sell. Your purchase price has no bearing on the current or future value of the shares. And, yes, even though I know this I still find it really hard to recognise my mistakes and sell shares in companies that disappoint.
Disclosure: former shareholder
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Thanks for your reply! RE: price, I wasn't sure what's relevant or not and thought it might be comparable to the .55c offer.
I did note that the SP averaged .76 today, which made me think it's a reasonable move to accept entitlement. Perhaps a good way to learn in this case is to experience and see what falls out.
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