re: Ann: Non-Renounceable Rights Issue and Op... Another capital raising!.
So many companies seeking funds from shareholders when the market is down, the whole resources sector has taken a hammering so it is a particularly testing time to find spare cash.
While I see the need for funds for Portia to proceed, assuming the DRMIA give the go ahead, a non renouncable issue will probably not be filled. Will the issue be underwritten? and by who?. An Institutional placement would be a better way of funding at present with a SPP at the same terms for investors.
Are there any Institutions who would come to the party?, if not the question needs to be asked....Why Not.
Ann: Non-Renounceable Rights Issue and Option Exe, page-2
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