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29/10/18
12:40
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Originally posted by Jimmy_C:
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I'd expect the ASX delisting & transfer to UK to be approved, for the simple reason that LCA management wouldn't bother proposing it unless they'd already canvassed major shareholders and received support for the move. The $8m institutional placement will be used to place more shares in the hands of institutions that support the move to UK listing - it's a cynical but legitimate exercise.
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exactly what would have happened, they raise to funds that will support the move and directors also taking almost 10% of the raise means they keep their voting power as well