Well there you have it folks, $10mill raised by 'sophisticated and professional investor clients' and at a 3c discount of course. Like I mentioned before, a ploy to fill their mate's pockets as done by so many. They're even giving them the oversubscription without any regard for SHs.
Not all that bad but a bit sad the little guy doesn't get a go, typical. An extra 60mill shares dilutes the register 40%. That's quite a blow and I wouldn't be too happy as a holder not getting a chance to actually offset that.
Still, $10mill dollars will keep their head above water for the time being. Am noting at the end of the announcement they seem very confident about a contract soon with the postponement yet again of Merriden.
I don't think you'll be having to wait too long at all before this comes to fruition and the SP starts to climb. Just depends how 'big' this contract will be.
Add to My Watchlist
What is My Watchlist?