MDX - Mindax Limited

[Pommiegranite]

Sorry to hear you are negative about TLM as well Gekko ...today:

TLM + 42%
TLMO + 65%

Not much news from TLM as well.....just a quarterly and some potential.

EB

Yep...sums up exactly what we know about this market. People trying to do things by the book will always be one step behind.

As for MDX, we had record volume today, and all this volume went through at or above yesterdays' close.

Now if you had bought in today, would you sell at a loss with the entitlements offer, and iron results dates looming?

I reckon that the only selling we saw today was from those who had bought much earlier and wanted to lock in some profits.

 

[exberliner1]

hi pommiegranite...not forgetting the lucky placement holders from the 13c issue. ... If some of them sold say at 23c safe in the knowledge that they had some more at 13c from the placement then it would effectively cut their purchase price for the placement to 3c (taking into account the 10c difference as profit).

If that is the case then the high selling volume will be a short lived thing and on another day the resistance will simply not be there.

Still as I have said before I am all in favour of contrarian views - its good to consider every angle.

EB

 

[exberliner1]

This is just a theory and an attempt to expand on my earlier post...also posted on HC as I am interested in some feedback...

_____

Patterson's allocated 3.8mn MDX to their "sophisticated investors" earlier this month at 13c.

Now... let's presume that those who bought the placement were already holders - after all they would be easier to sell too.

With the heads above 20c (let's take 23c for this example) then it would make a lot of sense for those who bought the placement to sell their existing holding at, say, 23c safe in the knowledge they have bought some more at 13c.

So if you held for example 300k MDX then the following might ensue

Buy placement at 13c X 300k = $39k
Sell existing holding at 23c X 300k = $69k

You have thus made a 10c (or $30k) profit as a very useful short.

Net result your holding of 300k MDX has now effectively cost you 3c... and you have the right to take part in the 2 for 5 with free attaching option.

Looking at the course of sales (again hard to tell exactly) there seems to be about 2.2mn - 2.5mn of sales that were larger parcels today. Plus there are still a few larger sell orders left in depth.

This over hang from the placement will be gone any day now. After all the placement was only for 3.8mn shares and we had volume of over 6mn today.

Once this placement stock is gone I see little reason for selling in the volume we witnessed today.

Maybe tomorrow...maybe Thursday I would expect the buy volume to be met with a very thin sell side....if my hypothesis on the placement stock is correct.

So if the buy depth remains as the week moves forward
then we should be in for a substantial increase in the SP and in MDXOA by the end of the week.

Just a theory and some guess work....anyone got any comments??

EB

 

[adobee]

Trading down a bit today following the cutoff date for the 2 for 5 at 10c and the free attaching options.. If it holds at 17c I will still be very happy..

What happens if someone sells now who was holding on Friday do they still get the 2 for 5 or would you need to keep holding until you actually receive your shares ?

Either way I am holding out for an iron ore announcement.

 

[Bushman]

Trading down a bit today following the cutoff date for the 2 for 5 at 10c and the free attaching options.. If it holds at 17c I will still be very happy..

What happens if someone sells now who was holding on Friday do they still get the 2 for 5 or would you need to keep holding until you actually receive your shares ?

Either way I am holding out for an iron ore announcement.

Share price is ex rights today so I believe that a new buyer would not be able to buy the right to the 10c shares plus options. Rather these rights are now trading on their own (ASX code MDXR) so if you wanted to purchase the 2 to 5 rights to MDX shares you would need to sell these.

I am not certain how you get these rights to appear on your holding account if you wished to sell your rights before the 12 November? A look at MDXR shows that 10000 have already been sold but maybe that was done through a broker. I do not have MDXR showing on my etrade account.

Any rights gurus out there feel free to correct my rudimentary explanations here.

 

[adobee]

Received details of the renouonceable entitlements issue yesterday and sitting down to read it now.. As I understand it I should also be receiving a prospectus ?

As I am a beginer here and have not taken up entitlements before can someone give some idea of how it works if you wish to sell the rights etc ? Does this automatically pop up somewhere saying that you own them so you can sell them ?? or is a certificate sent out or does in appear in my chess statements ?

Cheers

 

[countryboy]

Someone on another web site said they appeared on their comsec holdings spreadsheet today. I haven't seen anything on mine we are supposed to be able to trade them from 5th Nov on (or am I getting that mixed up with RMI?)

 

[JimBob]

Mine appeared in my Comsec account today, under the Code MDXR and it says applications close 30 Nov. Not much buying or selling of them going on, currently trading at 4c, seeing as you can pay 10c to convert them to an MDX share and get a free option, they should probably be trading at more towards 7-10c, shouldnt they?

 

[thewahaman]

Mine appeared in my Comsec account today, under the Code MDXR and it says applications close 30 Nov. Not much buying or selling of them going on, currently trading at 4c, seeing as you can pay 10c to convert them to an MDX share and get a free option, they should probably be trading at more towards 7-10c, shouldnt they?

JimBob, can I ask whether you have done anything to have them appearing in your Comsec account, like filled out forms etc etc? Sorry for the potentially stupid-sounding question, I'm a total newbie, and am just trying to understand what is going on and what to do... Thanks mate

 

[Synergy]

No sign of them here either...

Was there a minimum holding to receive the offer? Surely they are given to everyone on the same day?


edit: thewahaman - read the rights issue prospectus released 31/10. Might become clearer. Section 1.6.

 

[Tiberium]

I bought MDX 2 days ago on 5/11/07, is it now too late to have the right to buy the 10c shares plus options?

 

[JimBob]

I didnt do anything for MDXR, they just appeared in my account. From what I understand, you can buy and sell MDXR up until 23 November, you have to pay your 10c per share by 30 November, then shares and options are allocated on 10 December.

 

[thewahaman]

No sign of them here either...

Was there a minimum holding to receive the offer? Surely they are given to everyone on the same day?


edit: thewahaman - read the rights issue prospectus released 31/10. Might become clearer. Section 1.6.

Thanks Synergy, things are beginning to fall into place for me now, I think I actually know what is going on

 

[joslad]

To those people who may have bought MDX through eTrade, like me, I emailed ETrade yesterday (I purchased MDX on the 29th October). My question appears below:

Will my "Rights" holdings be added to my portfolio view at some point, so that I can sell them if I wished.

Reply:
Thank you for your email. Due to your order to purchase MDX securities having yet to be settled, we cannot place the rights, MDXR, to your E*Trade account yet. However, please note that the record date is the 12th November 2007 and these should be added shortly.


so my take on that is that you do not have to do anything, with etrade, for the rights to appear in your portfolio. Once the original order, MDX purchase, has settled and the record date passes, MDXR should appear in your portfolio.

 

[adobee]

I cant see anything on my position statements either..

I notice the directors have sold a fair amount of shares.. have they done this cause they think the price is high and dont want to wait for results or because they will be picking up so many more at the 10c price ?

 

[adobee]

I didnt do anything for MDXR, they just appeared in my account. From what I understand, you can buy and sell MDXR up until 23 November, you have to pay your 10c per share by 30 November, then shares and options are allocated on 10 December.

Have you filled out the form as per section 1.6 at the back ofthe prospectus ?

I am getting a bit confused on this now..

 

[JimBob]

Have you filled out the form as per section 1.6 at the back ofthe prospectus ?

I am getting a bit confused on this now..

No, i havent filled out any forms, all i have done is purchased MDX shares. Seems strange that MDXR is in my account but not others, i held MDX for a week or two before the friday cut-off date, maybe that has something to do with it. Give it a few more days, im sure they will pop up.

 

[thewahaman]

No, i havent filled out any forms, all i have done is purchased MDX shares. Seems strange that MDXR is in my account but not others, i held MDX for a week or two before the friday cut-off date, maybe that has something to do with it. Give it a few more days, im sure they will pop up.

Wait, you haven't filled out that form, yet MDXR has appeared on your account? This is beginning to get confusing...

What makes you so special? :

 

[Nyden]

Wait, you haven't filled out that form, yet MDXR has appeared on your account? This is beginning to get confusing...

What makes you so special? :

Perhaps you just need to wait? How long have you held them? They probably just need to get your details on the books, or something :

I assume those of you who still haven't gotten them are still CHESS sponsored, yes? Or through a broker?

 

[kevinecom]

Why MDX Director GILBERT CHARLES GEORGE continue to dispose his shares and options before the upcoming annoncement???

No wonder why the share price keep heading south?? very bad move from the company's director.