A 13.6% shortfall. That is not too bad a result.
If the lead underwriter cant offload the 2,324,503 shares it is left with then no doubt they will be hoping for some good drilling results.
It always amazes me why Peel don't plan for the release of drilling assays to coincide with a current rights issue. Especially when they know there is a good chance of coming up with positive results. Seems to be quite common practice with some other companies i know.
Wonder if Jim Simpson will keep the 2,857,143 shares he is now bound to take up ?
Ann: Entitlement Issue Closure and Shortfall Notification, page-2
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