Ann: ORA - Completion of Institutional Entitlement Offer, page-55

Madamswer, the evolution of this. If 83% of institutional entitlement holders took up the placement, then 17% didn't.
Add that 17% that didn't to the 83% that did, but will look at 'manipulating' their net exposure through subsequent trading of positions (eg take up entitlement, but then dump 10% back on the market, just an example)

Then we have some potential short term volatility in the share price.

Secondly i don't think its $2m for retail. If one looks at the total capital raise, subtract the instiutional component, its much much more than $2m.
How many retail investors will be taking up their full alotments, when the spread is not that great between the share price and the entitlement price.

I took a micro position at $2.81 (wasn't a holder before).
And will see how the pricing goes.
Decent Stalwart company, but as a Stalwart, growth is slow. Everyone keeps harping on about earnings growth over 4years. How about over 10 years?



Like any decent Stalwart company, in my opinion price paid for the share is even more important!!!!