Is the rights issue still on a 1 for 6 basis which would theoretically raise about $14.8 million.
A 1 for 8 would raise about $11 million.
I presume that they have estimated that not all shareholders will take up the rights.
On a 1 for 6 basis I now have to come up with $41,610 in lieu of the $35,340 when at 62c for the same number of shares.
The announcement of Reveley stepping down & replaced by McLarty was posted while I was busy composing my earlier post.
Ann: Company Update & Capital Raising, page-25
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