I think there’s bit of confusion re the 2 major shareholders - CTW and Bornstein. They both have about 141m shares. Of which 140m both locked up for further escrow till Mar 2019. So 140m is out of the game for the next 6 months. Of the “available” 140m they already sold as per announcements about 30m shares combined so in theory they have another 110m to potentially offload. Not champ change but this at current levels is about $3.3m or 6-7% of the Macap. Pressure for sure but given the high turnover in the stock this should be easily digestible. Now, both are the co founderone s and also under Israeli law, they have to pay taxe8.4s on their gains so one would assume that while keep 50% skin in the game w the locked up shares, they will need to sell some to satisfy the tax burden. What’s the tax bill? CGT in Israel is 25%. So if I do the maths of 280 shares x 3= 8.4m. Say they invested originally at 1c? So gain is about 5.6m and at 25% tax rate their tax payable would be about $1.5m. If they sold about 30m shares so far at avg of 3.8 (as per announcement) it’s already about $1.2m so I Guess we are looking at another $300k worth of stock or about 10m shares to go... ofxourse they may want to sell more but I would suspect at these levels they would try and avoid as mush as possible. So another 10-20m shares to sell? That’s less than a week volume!!!in conclusion I don’t think market should be worried about that too much!!!
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I think there’s bit of confusion re the 2 major shareholders...
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Last
$3.19 |
Change
-0.100(3.04%) |
Mkt cap ! $353.2M |
Open | High | Low | Value | Volume |
$3.31 | $3.45 | $3.18 | $4.002M | 1.207M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 19867 | $3.19 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.20 | 4150 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4676 | 1.920 |
2 | 7000 | 1.915 |
3 | 23879 | 1.910 |
3 | 4434 | 1.905 |
25 | 104490 | 1.900 |
Price($) | Vol. | No. |
---|---|---|
1.945 | 4000 | 1 |
1.950 | 2979 | 1 |
1.955 | 2979 | 1 |
1.960 | 2979 | 1 |
1.965 | 2979 | 1 |
Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
WBT (ASX) Chart |