trading @4c

PWT now down 49.4% to 4c on 8.9M turnover due to circumstances associated with last week's loss at the Extraordinary Meeting.

PWT lodged last week its Renouncable Rights Issue of 2.3 shares for every 1 share held, priced @2c, to raise ~$46M.

2.5B shares will eventually be issued, resulting in an overall share issue of 3.6B.

This morning, PWT ordinary shares went ex-Rights (hence, contributing to the near 50% drop) and trading in the Rights commenced.

Currently, the Rights are trading @2c, on the back of 8 matrket trades involving ~2.7M Rights.