Yes - I am very surpirsed that not all the shareholders took up their rights! I mean the current sp is ahead of the issue price so it means that they must be short of cash.
At least 73.7% of shares were taken up leaving 1714377 remaining.
Didn't the memorandum mention that 1 million will be allocated to Coupland Cardiff Asset Management in the event of a shortfall? That leaves 714377 shares which hopefully will be absorbed by another institution.
I guess the only downside is that Ferraus will have to pay fees to ABN Amro Morgans for this placement.
I should have applied for more!
shortfall notice, page-2
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