I am not surprised this is happening. It has been on the cards for a while now.
I am sure shareholders will get a chance to participate, but if Todd Energy are true to form, the issue will be very close to the market price and they will underwrite it.
I think this will be the last raising they will need for the foreseeable future. Once they get access to all of the Maari cashflow (ie having paid off the debt facility), then they should be fine.
Ann: Trading Halt , page-8
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