Given that they said they would scale back the shares, by my calcs that's likely to mean:
1. 35,174 gets scaled back to 24,235 shares 2. 25,000 to 17,225; 3. 15,000 to 10,335; and 4. 5,000 to 3,445.
Although they may do it a different way e.g. everyone gets at least 5,000 shares. But not too bad a result, given that the maximum potential applications could have been over $30 million (compared to the actual $8,708,345).
I'm now divided between whether shareholders will sell them or top up on rising optimism about the company.
ACB Price at posting:
59.0¢ Sentiment: LT Buy Disclosure: Held