I can't see an institution paying more than 1.8c a share. Will the company offer shareholders an SPP at 1.8 also with an underwriting by an institution. It will probably be Monday before we know what is going on.
An insto would be offered a percentage for the deal and possibly place their shares on the market at the buying price and accept the commission percentage as their profit.
That's my opinion. I've seen that sort of fund raising so often in the past. The alternative is someone taking a major shareholding in the company at a discounted price.
Ann: Trading Halt, page-31
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