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Ann: BWX Completes Institutional Entitlement Offer, page-13

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kennytmhk

84 Posts.

24/10/17

11:08

Post #: 28142328
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Originally posted by Al99 ↑

Whatshername

As a shareholder in BWX, you have an entitlement to buy new shares at an agreed price, which is $5.92. You can buy 1 new share for every 5.7 shares that you owned at a particular date.

You can also sell that entitlement.

The large shareholders have done this process and the sale of those entitlements where sold via a book-build over the past few days. The final price was $1.08 per entitlement. When added to the issue price of $5.92 that gives you the $7 price which is mentioned in the press release.

The retail offer will open shortly and this will go through a similar phase, where you can sell or trade the entitlement or pay the $5.92 and get another share. The entitlement value may be higher or lower than the $1.08 price.

I hope this is clear.

Cheers, AL

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Thanks for reply and it is clear.

Just one further question. Who pays the $1.08? BWX or other institutional investors?

BWX Price at posting: $6.77 Sentiment: Hold Disclosure: Held
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