Retail investors in MXC, who are holders of the stock on the record date of 10 May, will also have the opportunity to participate in a company capital raise on the same terms as the sophisticated investors via a Priority Rights Offer (PRO).
This offer includes one free attaching listed option for every three ordinary shares applied for, exercisable at 6.5c on or before 30 June 2019. Given the record date is 10 May, this means those investors new to the company will be still be able to participate in the PRO
I think the suspension is because the offer has a close date the 10 May, could be seen as a carrot and stick offer. The suspension will be lifted on the 11 May would be my guess.
MXC Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
