Advance NanoTek Limited (ASX:ANO – Get Rating) insider Rade Dudurovic bought 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were acquired at an average price of A$0.75 ($0.54) per share, with a total value of A$112,500.00 ($80,935.25). The company has a quick ratio of 4.28, a […]
Advance Nanotekâs hair-raising hypocrisy
Tom Richardson
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Weâve previously documented Advance Nanotekâs public criticisms of stock exchange operator the ASX. This time last year the suncream ingredient groupâs chief executive,
Geoff Acton, threatened to quit the bourse in protest at perceived injustices perpetrated against it.
So we could hardly believe our eyes this week to see Advance Nanotek is using its ASX listing to raise $4.7 million from investors, with $935,000 of the proceeds used to make loans to employees to purchase shares on market.
Thatâs right, the self-confessed ASX critic is issuing shares to raise money to lend back to employees to buy more shares on the ASX. And get this, existing shareholders have no choice but to tip into this hare-brained scheme or end up being diluted.
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Why the Advance NanoTek (ASX:ANO) share price is sinking lower again
James Mickleboro | February 1, 2021 3:32pm |
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Advance NanoTek Ltd(ASX: ANO) share price has started the week with a day in the red.
In morning trade, the advanced materials company’s shares were down as much 9% to $3.61.
The Advance NanoTek share price has since rebounded but is still down 2% to $3.90 in late afternoon trade.
Why is the Advance NanoTek share price sinking lower?
Investors have been selling Advance NanoTek shares on Monday following the release of an update on its first half performance.
According to the release, as the company had previously warned, it is expecting to post the smallest of profits for the six months ended 31 December.
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