What happens if the cap raise rights price is around 45 cents & the share price falls below that price?
The answer is--
Mac Equity Partners Pty Ltd (AFSL 338731) may place any shortfall of the Entitlement
Options on a best endeavours basis.
Hmmmm.
SMN still receives the money & the cap raise will be successful but who will be the winners & who will be the losers?
The losers will be the current shareholders who will have their percentage of equity reduced & the value of their holding reduced.
The winners will be SMN who will receive the money from the cap raise & whoever takes up the shortfall at the reduced price.
Ask yourself, " who is responsible for putting together the new prospectus & terms for the cap raise".
Ann: Appendix 4D & Half Year Report, page-16
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