Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters Team Will you be participating in the Liontown Resources & Silex Systems SPP? in terms of pricing - I Know you like the current price to be trading 10% above the SPP price. LTR is doing that at the moment but Silex is trading around the SPP price. What other factors are you considering for these 2 stocks in deciding your participation? regards Debbie
Hi Debbie,
Yes to LTR. No to SLX at the moment given it’s 5c below the price, though it does give a 2% discount to VWAP and the offer doesn’t close till Friday, 29 August at 5:00 pm – so our view could change. We take into consideration the impact on sector weightings and then the actual weighting in the stock, but it’s dependent on portfolio size. For example, assume a $1m portfolio has a 3% weighting to LTR (=30k), applying for (and getting) another 30k would put the position up to 6% – probably too big for this type of stock. In a $10mn portfolio, holding a 300k position, then adding 30k into the stock only increases the position to a 3.3% weighting, which we’d be content to do.
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