I did some sums lately about how many shares MNS could place in a Rule 7.1 placement and what the extent of the discount could be: https://hotcopper.com.au/threads/an...dix-5b-query.4355667/page-60?post_id=34943301
The last 5 trading days have been between 36.5 and 38.5 cents, so let's pick a 5 day VWAP of 37.5 cents.
80% of 37.5 is 30 cents.
Thus, my back of the envelope calculation suggests the lowest capital raising price could be around 30 cents.
MNS could place its remaining Rule 7.1 allocation of 66,491,129 shares to raise $19,947,338.70.
It will be interesting to see what comes of it, good luck.
Laters..
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