Very disappointing result
Since there's never a participation rate given in these ann's - which imo is a very important indication as to the result of the raise......... thought I'd do some really quick average math...........
Per last annual report, a few months outdated yes but still would be a decent indication as to the ballpark number, we had Just under 6,000 share holders - 5,928 to be exact (but 6,000 is easier for math sake)
Let's say 10% of holders bought in with the min $2000 amount - 600 people that'd be $1.2mil....... (Just) Under the $1.4mil they raised.......
Some did apply for the full allocation so I think it'd be fair to say uptake for the raise was probably ~10%...........
Again pretty disappointing to see this but it is what it is
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- Ann: Issue of Shares and Appendix 2A
Ann: Issue of Shares and Appendix 2A, page-19
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