I must agree with you . Especially this line from the presentation.................Secured $31.5 m in commitments from global institutional investors............
They use the word COMMITMENTS. Should read secured 15.75 million with 15.75 million pending mum and dad approval.
Because we have such short memories I have added this below. Institutions were given 7,9 million shares and mums and dads 3 million. By the way in was oversubscribed.
Sydney Australia, 23 July 2013: Benitec Biopharma Limited (ASX Code: BLT), today announced that it has completed a private placement of its shares raising A$7,900,000. Pursuant to the Company’s capital raising announcement to the ASX on 6 June 2013, Benitec received additional oversubscriptions under the private placement totalling A$900,000 Benitec will also raise up to an additional A$3,000,000 via a share purchase plan (SPP) to existing shareholders on the same terms as the Private Placement, with the closing date for the SPP on 29 July 2013
BLT Price at posting:
$1.70 Sentiment: LT Buy Disclosure: Held