In my opinion, the future of SCU will be decided (one way of another) next week.
My thinking is as follows:
The two prior CR attempts (Entitlement Offer / Entitlement Offer Shortfall) failed. Sanlam could only raise a tiny amount of money. And because the stock didn't relist within three months, SCU had to return it. Sanlam is trying once again to raise money. If this third attempt is unsuccessful, it seems doubtful (in my opinion) SCU will ever raise the cash it needs to execute its plans / remain solvent.
The current raise is being offered under the Refresh Supplementary Prospectus, which was announced on 26 October. If the company does not re-list within three months of that Prospectus being released (i.e., 26 Jan), this third CR attempt also fails and whatever money has been committed will need to be returned.
So SCU needs to collect whatever money it requires from this current raise. Satisfy all of the additional ASX requirements for relisting. Submit the paperwork to the ASX and have it all approved, and then resume trading - all within the next 14 business days. Assuming it takes ASX at least two weeks to approve the materials once submitted (optimistic?) SCU needs to wrap it up early next week.
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