The 2009 annual report indicates there are 6886 holders of UNI shares.
$10,000,000 / 0.85 = 11,764,705 shares to go around for retail holders.
You would have to assume a high uptake rate given the discount to current share price. Let's assume 5000 shareholders participate. That would be 11.765 million/5000 = 2352 shares per person or $2000 each.
Writer, in regards to you suggesting it won't be scaled back. Do you think that would be a good thing?
God I hope your wrong, every extra share issued at these prices is dilutive. Assuming it wasn't scaled back, and if 5000 shareholders put forward $10000 each, that would be $50 million or nearly 60 million more shares on issue + the 55 million shares just issued to institutions (assuming uptake of options). That would result in an increased share base of 50%, when there is no reason to raise it ALL in one go, as C Stevens has noted.
What's not to like? How about the free options? Was this really neccessary? It suggest they weren't in a position of power when negotiating with these institutions if they needed to sweeten the deal to such an extent.
Man I'm starting to really think that you work for UNI. It's awfully strange to have someone so positive about every single action of the company, when there is clearly a balance of both positive and negative to the current situation.
UNI Price at posting:
$1.17 Sentiment: LT Buy Disclosure: Held
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