Ann: VRX Reprices Fully Underwritten Entitlement Offer, page-31

I still guess it will all be down to the sub-underwriters.

Being machiavellian about it, if they have demonstrated (by the doubtless weak take-up of the offer) that the raise is totally dependent on them, Bruce and Cannacord are over their barrel, so they have reset their terms. If the sub-underwriters are Sparta, say, and like thinking others in the T20, it may just bring about some changes.

I'm inclined to be in for as much as I can get. But I'd sold down to very little earlier this year, so it won't be much. And I still have to regard it as a binary EPA go/no go, so happy not to be too heavy in this. Good luck to you guys with more hefty positions.