Luckily for the company, damo77 and the 9 people who upvoted his post will be handing over 30k each to participate in the SPP even though the share price is below the 27c issue price.
That is short of the $5m the company wanted so the company might raise the remaining $4.7m the way it should have done a month ago, by a placement, but unluckily for damo77 and friends, it will have to be done at 20c now which means a larger bit of unnecessary dilution, followed by the customary share price movement to the new placement price.
Three cheers to management! Hip, hip, hurray!
E25 Price at posting:
25.5¢ Sentiment: None Disclosure: Not Held
