Okay, I need some help. I'm confused by a couple of things with this entitlement offer.
Maybe I've missed the relevant parts of what I've read but don't think so. .
Offer is 1 new share for every three held as at record date of 9th July. Exercise price of 2.5Cents.
PLUS, one free option for every three new shares. Options exercisable at 3.1 cents. Good until 2022
PLUS, Allowed to subscribe for over allowance ????? if entitlement is taken up in tits entirety.
A couple of things;
1. What are the details o the over allowance ? How do you subscribe for it ? 2. What is the benefit to shaerholders selling now @ say 22 or 23 and then buying back in at the 2.5 ? Solely to pick up the rights to the options ?
Thanks for any advice.
cheers,
dc
MEL Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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