Anyone had a go at working out the placement figures here. If so appreciate comment on my take.
Shares on issue before placement 863 566 975
+15% 129 535 046 under listing rule 7.1 = 993 102 021
+10% 86 356 698 under listing rule 7.1A = 1 079 458 719
Via this announcement we have 140 000 000 going to profs, sophs & directors.
So of the possible shares of both 7.1 & 7.1A 215 892 743 the original SPP to shareholders looks to have been taken up to the tune of 75 892 743 or about $379 464.
Now consider the directors committed to take up their $15 K or 3mil shares in original offer. 3 x directors = 9mil shares. Directors are also now committing to a further 40 000 000 shares or $200K.
The 3 directors will be contributing a touch over $80K each to this capital raising if equally split & depending on shareholder approval.
Any thoughts on these calcs or director committments.
Cheers
Pickle
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