The dilution will more than double the shares on issue.
Here is the explanation of what will happen:
Total number of shares after rights issue: 200m (current) + 220m (full raise) = 420m
Share price: 0.5c
Market cap: 2.1m (assuming 0.5c share price)
Cash: 1.3m*
*assuming 238k outflow for quarter and 70k expense on the raise
Enterprise value: 0.8m
Ann: Appendix 3B, page-4
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Mkt cap ! $57.66M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 42.5¢ | 40.0¢ | $337.4K | 818.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 73729 | 40.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.5¢ | 5650 | 2 |
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