Ann: Successful Completion of A$94.6M Retail Entitlement Offer, page-31

Overall I am pleased with the way PDN management have dealt with this raising. I suspect retail shareholders are happy to have been included in the 26 entitlement, at a time the U market is looking really positive, rather than the previous 70c CR just before the U price collapse that was only for Institutions...

I did find it strange that retail investors weren't able to subscribe for multiples of their entitlement, since my understanding of the concept of "underwriting" is to act as a backstop for shares that were not in demand.

It looks good however that both retailers and underwriters appear to be fighting over the % of the scraps left on the table.

I remember a year or two ago, when PDN was vulnerable to it's huge debt, John B was heavily criticised on this forum, I'd just like to give him a thumbs up for how he and his team have navigated a tricky couple of years. Hopefully onwards and upwards from here.