Ann: MOD Entitlement Offer Closes Heavily Oversubscribed-MOD.AX, page-3

I know these rights issues are slightly different to the ones I'm used to seeing. Never the less some interesting pointers in there.

Actual take-up of the rights was just 56% (yes need to allow for those that didn't qualify from other countries).

Clearly people at the last minute saw the easy no-risk cash available & went for it. There going to get roughly 50% of the extra they applied for.

Question is are they going to hold it for the longer term, or take the quick profit & run on some of it?

Anyway MOD has all the cash it needs to carry on drilling for now. A little surprised T2 didn't warrant a mention in the plans given last week's news release.

LOTM