They've never had a problem raising capital in the past from US & Aus investors, And as they say 35% of the register is held by US holders, who have worked within the current ASX constraints.
In the short term it provides less liquidity for us on the ASX and we're already a fairly ill-liquid stock.
It does give them greater access to the largest pool of investors and RD is obviously well connected both here & in North America. Maybe the US investors can get the SP moving up from here. Time will tell and management has to deliver on its growth strategy.
Perhaps it also makes us easier to be acquired one day down the track.
RNO Price at posting:
25.0¢ Sentiment: None Disclosure: Held
