Yep, Jake, clearly they needed the funds asap. I have been saying for a while a CR was needed and wondered why it was taking so long. It would appear to get around the problem they just split the entitlement offer into a retail offer and an institutional offer which has much less rigid requirements so can get the funds funds and issue shares straight away. Obviously all shareholders should be treated equally however I guess in this situation at least we know that neither Todd or OCJ will be selling (at least in the short term) Importantly they can only be offered the same entitlement ratio as minority holders and I hope all minority holders can take up their entitlement so our majority owners percentage doesn't continue to climb. I know that is wishful thinking and not everyone can or will wish to. Liquidity is the issue for us at the moment with our 2 largest holders owning 80% of the company but hopefully once DFS completed and we get nearer to FID and production we will see some outside interest...............................
RHK Price at posting:
64.0¢ Sentiment: None Disclosure: Held
