I hope many shareholders took up their entitlement offer by yesterday. My guess is there wont be much of a shortfall, and there will be around 2 billion shares in otto on issue after this capital raise including performance rights, but not including the convertible note. In a falling Aud$ environment, any conversion of the convertible note will result in more otto shares being issued, and ive worked out it might be in ottos best interest to pay it out with cashflow (only IMO ofcoarse)
Ann: Otto to Participate in Drilling the Bivouac Peak East Well, page-24
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