$15m is chicken feed for Shaw to flog off to their clients who are willing to take a punt.
Very little risk to Shaw. They pick up their $600k fee and if they have to hang onto the stock, they got it at a 15% discount which they can then release gradually into the market. Their margin is already baked in. The SP will have to fall well below 2.5c before Shaw will make a loss.
Ann: Netlinkz Entitlement Offer Prospectus, page-12
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