They're raising $1.5m at 2.5c, I think fully underwritten - half from a placement to sophisticated investors (under the 15% limit) and half from a rights issue - so 60 million shares and about a 27% dilution.
This is as good as it could possibly be, in my opinion, given the circumstances: moderate dilution, but enough that they shouldn't (fingers crossed) need another raising before the income streams get going.
capital raising
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Last
22.5¢ |
Change
-0.005(2.17%) |
Mkt cap ! $183.7M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 23.5¢ | 22.0¢ | $48.33K | 215.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 79207 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 150560 | 1 |
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| Last trade - 12.58pm 11/07/2024 (20 minute delay) ? |
| OIL (ASX) Chart |