To follow up with numbers to show the effect on "loyal" shareholders.
If the placement was converted to rights issue the issue at 44 cents would be around 1 new share for each 8 currently held.
The current price post placement and thinly traded at that is 46 cents.
So each new share is 2 cents in the money and given you only get 1 for 8 - each existing share is now 0.25 cents better off - one quarter cent.
All this comment for one quarter cent - loyalty does have a low boiling point.
not good news for loyal shareholders...., page-35
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Mkt cap ! $141.8M | |||
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