A couple of interesting points re' the cap' raising.
Debt reduction and benefits based on 100% acceptance. To try to ensure the 100%, the offer is renouncable either in part or in full.
At a current market price of around 60c if you take up the offer, your average price will be around 51c.
Ok but at a price of 51c say, taking into account the dilution. If fully subscribed, the dilution from this offer, will be 80% so in terms of your holding in the value of the company and any future profits, that will be worth 51c/1.8 or around 29c per share.
OK you have more shares now that make up for the dilution. But you've had to pay for the privilige of holding your position.
BSL Price at posting:
51.7¢ Sentiment: None Disclosure: Not Held
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