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13:37
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Originally posted by miningnut
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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.
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surprised someone like you who has been around the traps for years got caught up in this miningnut
