re: Ann: Entitlement Offer Significantly Over...
Literally a back of the envelope calculation -
Approx 100M shares were to be issued (approx 97,643,305 actually) Some 80M to be issued as subscribed entitlements, leaving about 20M to be issued as shortfall.
All of the 2500 SH who wanted up to $500 worth (5555 shares) extra will get it. Assuming that is most of them, there goes an extra 13.9M shares. Given it will be less than this, pick a round number of 10M issued as base allocation, leaving another 10M still to allocate as shortfall.
However, these SH want a total of 170M shares between them, on top of the base 5555 share allocation. Without considering how many people have asked for compared to their original entitlement, that would mean everyone got about 1/17th of what they asked for over 5555 shares.
Here's where things get fuzzy. At the extremes, there might be large shareholders who only wanted 6000 extra, or SH with only a token holding that wanted to pick up several million shares to dump and make a tidy profit.
Obviously the first category should be given pretty much all they asked for, and the last bugger all.
Not sure how you would work all that out, but if you wanted about the same as you were entitled to as extra, my guess is you will get about 5-10% of the amount over the $500 worth.
DTE Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
