Ann: Successful Completion of A$94.6M Retail Entitlement Offer, page-27

I suspect that the retail issue was not just a retail issue, as it was waaaay too big. I suspect that a lot of those who would be at the institutional end of the spectrum wanted to wait and see what happens a bit longer - so were put into the retail issue. If so, some of these institutions would have been offering to buy bucket loads of extras. Too many shares issued for retail, a lot of whom will hold shares but not really be engaged with U and company issues unlike many here on hot copper.

Would have been nice if retail got a complete fill of extras - but the sub underwriters have quite a lot of power, and PDN will want to satisfy them as well - they are funded til at least mid 2016 - might need those subs at that later date, and then be reminding them of their kindness.

From what I can see - there has been no short stock available since day 1 after the announcement of the cap raise. I suspect it got mopped up by those who wanted to hedge their entitlement, so will be interesting to see if some short supply returns on next wed or thurs.

Be aware that the insts might get their stock on Wed, and most retail on Thurs, so if you have a short term plan to sell your new stock - you might want to take that into account if there is heavy selling on Wed.

Good luck to all