Ann: Successful Completion of Institutional Entitlement Offer, page-2

This is good news.

A high (95%) percentage of institutional investors took up 88% of the offer, and subsequent bookbuild was oversubscribed.


If the underwriter had to step in, that would have been a bad omen for tomorrow's re-listing.

This is all about confidence now, and with institutional investors showing confidence - most likely following some degree of due diligence about customer/supplier/financier attitude - I hope that not all is lost for RCR.

Also, with $70m already raised, this meets the financier's minimum target of raising $50m by November.


I do acknowledge that I called RCR terribly, terribly wrong during May & June, when I interpreted the share price decline as a typical seasonal share price weakness - in line with RCR prior year history.