ELE 0.00% 6.9¢ elmore ltd

Ann: Significantly Oversubscribed Placement, at a Premium-NSL.AX, page-3

  1. 13,332 Posts.
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    "New institutional and high net worth investors are supporting the Company in addition to the existing top 20 shareholders. It really is an exciting time to be part of the Company’s future.”

    I believe there has been strong interest from TOP 20 and other investors. Normally placement of such companies are done at 10-20% discount of 10-20 days VWAP and provided heavy discount to current price if stock is up by 50-100% in past few weeks.

    BUT NSL management were able to get 21% premium to 30 days VWAP and provided hardly around 10% discount to previous closing price even though stock is over 100% in past few weeks.

    Great work by Management.

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