Ann: Orocobre Limited - Issue of shares to Toyota Tsusho, page-6

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05/12/18

00:45

Post #: 36752061
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Originally posted by butcherboy ↑

Originally posted by ramon
Not good news as shareholders being further diluted all the time. The Board should have taken a leaf out of some other well run companies and used cash funds to buy the actual shares on market. This way they would have had to buy a lesser amount of shares as when they issued new shares they also had to issue a greater amount to make the relevant TCC % up. The way they have done this transaction is NOT in the ordinary shareholders best interest. Even when you take into account that TCC paid for these new shares, any dilution is never good no matter how small it is.
That is ridiculous. TTC paid the VWAP for them of $3.93, and this was the company that bought shares during the last capital raise at $7.50, which is the opposite of dilution! I think ORE has done well to create a $1Billion+ market cap company with only 261,533,001 shares on issue. Check out some of their peers and see how many shares they have. GXY has 408 million shares on issue, but they had a 5 to 1 consolidation in 2017, so that number would now be over 2 billion if we compared apples with apples. Some shareholders just gotta have a whinge for no reason.

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Entirely agree @butcherboy The company has done a very good job in keeping the number of shares available at a minimum.

ORE Price at posting: $4.43 Sentiment: None Disclosure: Held
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Ann: Orocobre Limited - Issue of shares to Toyota Tsusho, page-6

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