MNS 0.00% 4.2¢ magnis energy technologies ltd

Hi Wilma85, You say "several weeks" but in reality the number of...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 7,025 Posts.
    lightbulb Created with Sketch. 318
    Hi Wilma85,

    You say "several weeks" but in reality the number of weeks it took to get the money for the placement (from trading halt on 5 Feb 2018 to to last 3B on 29 March 2018) was 7.5 weeks.

    Let's call it 2 months.

    Last time it took MNS 2 months to place its $5m of shares, in circumstances where the buyers in the first tranche could have easily been selling down to buy more and fund the company.

    If this is true then they would have been selling into the "good news" announcements by MNS.

    If it is not true then I wonder why it took 2 months to settle the placement.

    It will be interesting to see whether MNS uses the same procedure this time.

    For completeness, here is the 3Bs relating to the February placement:

    https://www.asx.com.au/asxpdf/20180214/pdf/43rl22qn7wzw0k.pdf
    https://www.asx.com.au/asxpdf/20180305/pdf/43s5rrm6gj0k00.pdf
    https://www.asx.com.au/asxpdf/20180329/pdf/43sv24jpjmk8jn.pdf
 
watchlist Created with Sketch. Add MNS (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.