Your rightful entitlement of 1.15 to 1 is intact, The 50% on top of your entitlement can be reduced if most of retail holders take theirs. But as below, only 66% of retail availed their entitlements which means you should get all entitlement you applied for including 50% top up.
Under the Retail Entitlement Offer, eligible shareholders subscribed for 357,453,739 New Shares which represents approximately 66% of the New Shares available for issue under the Retail Entitlement Offer, which includes eligible shareholders taking up 40,503,282 New Shares under the top-up facility (“Top-Up”). Consequently, 182,930,625 New Shares that were not subscribed for under the Retail Entitlement Offer (or allocated under the Top-Up) will be allocated to sub-underwriters in accordance with terms of the subunderwriting agreements and the allocation policy described in the Prospectus. As previously disclosed, Western Areas Limited (ASX:WSA) (“Western Areas”) is acting as a priority sub-underwriter to the Retail Entitlement Offer and will be issued 108,611,863 New Shares arising out of the Retail Entitlement Offer shortfall, resulting in a pro-forma shareholding in Panoramic of 19.90%.
PAN Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
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