re: Ann: Non-Renounceable Rights Issue for St... Dont forget TRF hold 50% of the issued shares...so they will get half the rights issue ...assuming they take it up which im sure they will regardless of SP.
That leaves only another 2 million shares. If other shareholders don't fully subcribe, this means TRFs holding will go ABOVE 50% unless they find someone to subunderwrite any shortfall.
So they must be pretty confident that SP will be higher in coming weeks.
Cdchi1
Ann: Non-Renounceable Rights Issue for Stage 1 Pr, page-9
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