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4.2¢ magnis energy technologies ltd

I’ll concede, “several weeks” was being kind. I see SYR has...

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Wilma85

2,453 Posts.

217

04/09/18

09:15

Post #: 35392733
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Originally posted by robbo24 ↑

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

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I’ll concede, “several weeks” was being kind.

I see SYR has completed a placement at a discount of 13.3% to its 10-day VWAP. Let’s see what MNS delivers.

MNS Price at posting: 38.0¢ Sentiment: None Disclosure: Not Held
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