Regretably I am prone to error and particularly arithmetic error.
Its in fact a 25% dilution (not 20%) as I posted the other day. Apologies.
Thus: Before the CR there were 276m shares
The CR will issue another 81m ($21m*.26)
Total: 357m
Shareholders who applied for the full $15k - and there is no scale back - will get 57,692 shares.
So anyone who holds less than 250,000 shares will not be diluted (25% of 250k = 62500)
There are 6000 shareholders and only 290 hold more than 100,000 so the vast majority are not diluted.
The pain hits MrDJ & Glenda very hard indeed with 12m 10m shares respectively.
It will be interesting to see how much of that $6m sophisticated investors capital is now held by them (& LNG Ltd of course). If she is to maintain her ratio Glenda will have spent $650,000 just to stand still!
No wonder they are spewing! (And they could so easily have had a CR which favoured the large holders)
If she has invested further there could be no better sign of her confidence.
Personally, from where I stand, I want to burst into tears.
Thank you for your time
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