Fella's lets get this clear! SBN will have a seperate stock code SBNR which you will be able to buy and sell the right to take up the entitlement through the ASX.
Anyone who wishes to buy SBN can buy the stock or the right to the entitlement (share and half an option) through the sharemarket. You know the thing that opens at 10am and closes at 4.00 pm.
If you are a shareholder that has a right to the entitlement you can take it up by paying the issue price or you can sell the entitlement thereby "renouncing"your right. If there is a buyer Patersons clients'more than likely (as they are the underwriter) in the market and you sell to them then you have passed on your right to someone else for a price which you keep.
There is NO OFF MARKET TRANSFER of stock allowed through member participants of the ASX (stockbrokers) as they have this legal thingy of keeping the sharemerket fully informed (except if you are called Opes Prime or Tricom then you can do what you want and who BTW got away with murder!!) what shareholders'do amongst themselves is another matter.
Hope this clears this matter up
Go well SBN
SBN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
