Still cant quite get my head around why they structured the CR in this way with such a low opportunity to take up with the 1 for 40.
An investor with $100,000 can only take up $2,500, or said another way, a holder of $1M in shares can only take up max $25K. Its crumbs in the scheme of things for each respective investor.
The prospectus notes that the company may offer any unused entitlement offer (included the free attached option), to pretty much whoever it likes.
I wonder if there is an undercurrent strategy to make it look like they are looking after retail holders, but actually strucuring it so that they are not inclined to take it up, so that they can place it to favourable instos or elsewhere?
Ann: Entitlement Offer open, page-2
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