trading halt to end at opportune time for sbm, page-9

I have done a summation based on SBM issuing the mandatory 15% script without shareholder approval, does anyone wish to make an approximate as to the amount of shares to be released and the price of issue???


They did say they are trying to achieve $70 - $75mill.

Issued capital (without shareholder approval) of 15% equates to a share issue of 194,899,800.

Divide that figure back into the $75mill they wish to raise and we have an approximate price of 38.5 cents per share for the issue.

Now presuming that the above figures transpire, the dilution from the closing trading price of 46 cents is approximately 1 cent per share.

Calculated at 1,299,332,000 presently on issue
194,899,800 (15% raising)

1,494,231,800 (Shares on issue post placement)


Current market cap is: $597,693,000
Additional capital is: $75,000,000

Total: $672,693,000


Divide your market cap by the shares on issue and we equate to 45.01cents per share after dilution.

They may do the cap raising at a totally different price...

good luck to holders


cheers