CR Scenarios, page-19

As for the most likely outcome ?

In case you missed a post I made on another thread I think the most likely outcome would

1. A private CR below 15% of shares. This could happen very fast and VNPT would be the obvious buyer.

According to appendix 3b NOR can sell 15% shares ( 130 million ) without getting sharehoulder approval.

http://www.smh.com.au/business/markets/quotes/announcement/NOR/norwood-systems-limited/1730933

Say that's 3 cents a share that gives 3.9 million would fund this quater and be only a minimum disturbance to our equity.

This outcome would imply that NOR was confident it could close deals and corona very soon but just needs that little stop gap. Also may explain why the share price and volume did not much on Thursday. If a massive deal was coming hard to believe a few sneaky uncles would not be jumping on.

If they go for more than 15% ( SP approval required ) that means they might need even longer or feel the need to really push harder with a bigger marketing budget and cash reserves at the expense of a larger share dilution.