cap raising on the cards - how, when, affect, page-2

Hi Hotazel

great questions....

1. My guess is that the tender negs will go into 1st quarter 2014 so they will need enough cash to see it through. They will not want to be seen either as cash hungry during this period.
2. Cap raise IMO will be instos, not us.
3. The SP will drop back to the CR level or below, pretty much always does.

eg if the intention is to do a CR at say 9, then the SP would be at .10 so that the insto gets a discount to the average market value calcs. So an insto can sell into .10 and buy back at 9. or whatever the number is....