I think the management needs to be congratulated for such an imaginative offer. The features I like most are:
1. The record date being on the 5th of November; and
2. The promise that in the future "... the Company will ensure that for the purposes of determining entitlements to and such issue, the record date will be at least 7 Business Days after the issue is announced." (p8 of ASX announcement)
With respect to point one.
I believe by delaying the record date this provides a incentive for the SP to increase, which has got to be good.
I like the fact that it is good to see a fund raising without discounting the SP.
With respect to point two.
The company will have the ability to make the conversion of options attractive by a credit raising in the future.
These are my opinions and I'd like to hear others opinions.
By the way I'll be taking up my allocation of options subject to my acceptance of the fine print in the prospectus.
Cheers
Stoops
CUX Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
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