Sorry but all they are, are a dodgy fund manager. They add no "shareholder value" other than giving the company money for shares, and unlike Tembo, they would NOT have paid a premium to the trading SP. Read the announcement again, and see what Tembo CAN do that Hunter Hall couldn't.
It is also highly unlikely they would have agreed to an underwriting of the rights. Infact, there may have been no rights issue at all if a fund got involved...ie I would have missed out on increasing my exposure at a discounted price.
Anyway, as Seals suggested, unlikely they could take a placement in such a small company because of their mandate...I assume STAs market cap is too small.
Cdchi1
Ann: New Cornerstone Investor Underpins Tanzanian Strategy-STA.AX, page-13
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