now I get it...?
I thought what the AFR was saying was pretty straight forward in the first place, providing it's correct.
Where does it say Morgans are getting the 18 million dollar placement? It says they are sole lead manager of the deal.
What it does say is, if the AFR is correct, is that the rights issue is fully underwritten which means its possible
the underwriter could get stuck with the lot.
So they are giving shareholders a chance to maintain their place on the register but if they don't take it the underwriter will.
Unlikely that whichever investors get the 18 million dollars worth of placement shares will get further dibs on the rights issue. Its the same issue.
I
Ann: Trading Halt, page-96
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