So directors, as underwriters of the raising will get proportionally higher allocation/preferential allocation from scale-back?
The underwriting agreement de-risked their underwriting (stating that acceptance of their normal allocation was including in their underwriting commitment)...
So effectively those directors have taken little to no risk, but now get preferential treatment in allocation of cheap shares?
I'm in the wrong game...time to start an oiler in West Perth. Who's in?
Ann: Non-Renounceable Issue closed over subscribed., page-5
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