Griv not sure what you have based the no participation on. Is it the tables on pages 12 and 115 of the prospectus?
Those tables only show the theoretical % holdings pre IPO and post IPO assuming no participation.
Prior to prospectus Regal had 1.6M shares. Post listing R posted the following SSH notice:
https://www.southernpalladium.com/site/PDF/90e9357b-a17a-49e8-bfb6-3306d3c268e2/Becomingasubstantialholder
Showing post IPO R has 5.88M shares. So they took 4.28M share in the placement and threw in AUD2.14M Lowell and Sprott have not posted SSHNs and with the top 20 list being mostly nominees impossible to tell what their participation was.
Ann: Southern Palladium Successfully Lists on the ASX, page-23
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Mkt cap ! $35.00M | |||
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