Share
35,567 Posts.
lightbulb Created with Sketch. 2285
clock Created with Sketch. 16/11/21
13:37
Share
Originally posted by miningnut
↑
It's because the more shares taken up in the Entitlement issue means the less shares our new shareholder has to sub-underwrite but that would mean they would get their additional shares to take them to 19.99% through a further(conditional)placement - so the minimum gross amount to be raised from the total equity issues is ~$105mil but if all shareholders took up their entitlements then the gross amount that would be raised is ~$119mil if the new shareholder didn't get any shares through sub-underwriting the entitlement issue as the additional placement would be triggered.
Expand
surprised someone like you who has been around the traps for years got caught up in this miningnut
