RE:Down 5%KCC did hit a high of $.39 before settling at $.345 on the ASX. (still much higher than the Venture close)
A bit of speculation regarding the price on the Venture vs the ASX:
As of the latest corporate presentation, Board/Management, NPC and LIM were still noted as having their shares listed on the Venture. It seems to me that most, if not all, of those shares would be a more natural fit on the ASX. As an example, LIM made their first purchase at $.39 from Origo and Duchintav. They then participated in another PP at $.30 as did NPC. (price adjusted to reflect the 1 for 3 reverse split) If a transfer from the Venture to the ASX triggers a Tax event, either gain or loss, it may be beneficial to have the price at $.30 or lower until the transfers are complete.
As I said, just speculating or trying to make sense of why the price on the Venture is so much lower than what we see overnight on the ASX.
Any thoughts on this EnglishBay?
Chip