re: Ann: Non-renounceable Entitlement Offer D...
Yes, interesting that 6.5 million shares are offered as entitlements and 5.4(?) million as placement. Good of the three main holders to guarantee taking up the non-filled entitlement though. Just confusing as to why they didn't raise all money by way of an entitlement...if the big three could still afford to fill the gap...they would just take more. By having nearly half of the raise come from placements they are risking SOME dilution to their holdings. Even more confusing, the suggestion that the placement will be largely taken up in Canada/USA. Buchanan lost his post in EXT because selling shares in Candada (via being listed there) was a BAD idea. Some of this is obviously tongue and cheeck but the talk that the big three will have their interests diluted is only in theory, so I am guessing.
EXT Price at posting:
$9.44 Sentiment: None Disclosure: Held
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