If it was oversubscribed then the directors are just being greedy in giving themselves 2.6m cheap shares !
If they want more, let them buy on market like the rest of us mere mortals.
So who took up the shares ?
It says who the placement manager was but not who took up the shares. Existing major shareholders or new outside parties ?
I thought that would at least be relevant.
Ann: Oversubscribed Placement to Accelerate Exploration-HLX.AX, page-3
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