I got you we. are the or case.
But I don't think LDA is unhappy coz shares were allocated 2 months ago to them
Dyor
g'day rgupta,
Shares can only be traded in the stated times as per the ASX announcement.
Imagine you are LDA. You renegotiate your longstanding, existing deal with BRN in late December. (yes, only months after they cheated on you with someone else). The SP is around 40 cents. BRN want to raise $20M and give you 40,000,000 shares to achieve that goal. Not hard!!! With some good news the SP will be north of 50 cents.
BRN will meet their obligation to LDA, Share holders will be happy and.....
LDA only had to man the trading desks for 2 months to earn their commission.
Nope,
As LDA, you lose time as BRN keep doing piss poor raises at smaller prices. You need to keep manning the trading desk over longer periods just to raise the $20M they agreed to. Shit for you, shit for shareholders.......
But there must be a win for someone........otherwise this makes no sense.