nhc takeover of dart - increased stake, page-28

roiboi,

They held 109m shares before the cut off, so their entitlement is 1/9th of that.

They are mostlikely to take up their full entitlement, which retains their %ownership.

Plus I assumed they will take up 20% of the insto placement as 40% goes to new investors and there was mention of existing investors taking up the rest.

This will increase their overall percentage holding compared to pre-placement, when they held only 12%.

Then the on market purchases of about 45m or so (more if they are continuing to buy).

So that means a significant increase in % terms of the overall shares issued even after the placement and entitlement offer.

IMO. Im sure someone could put the numbers together with more accuracy, but I reckon this is in the ballpark and the direction is for NHC holding more of Dart, not less.