Couple of underwriters have a vested interest in holding MDT down. Although a private placement's just been completed at .067 (the price we'd hope to climb back to) - the underwriters are guaranteeing to take up rights issue at .055
Section of ann relevant...some heavy bots from Citigroup and co want ALL the potential units available...they don't want us to take them up! See if others will fight to push the share up later....
The Entitlement Offer is fully underwritten by Joint Lead Managers Citigroup Global Markets Australia Pty Limited and Macquarie Capital Advisers Limited. Standstill agreements from the Trusts lenders and derivative counterparties are in place. EPN has committed to take up its entitlement and, together with certain other institutional and wholesale MDT unitholders, will participate in sub-underwriting of the Entitlement Offer up to A$156.4 million.
