help with their numbers please

The capital raising news release stated: “After the placement of 46.02 million shares and the acquisition of the further shares, IKL will hold approximately 13.2% of the ordinary share capital of Senetas.”

Someone who is more numerate than me may like to work out what 13.2% of the ordinary capital works out to in dollar terms at 0.55 cents per share and at 0.41 cents per share.

To give the numerate one a feel from where I’m coming from, if the numbers were being worked in absolute number of shares, rather than dollars I believe they would look like below.

In terms of actual shares, and rounding the number of shares on issue off, you get 460,600,000 shares.

13.2 % of 460,600,000 is 60,800,000 shares (approx).

The capital raising news release nominates 46.02 million shares and talks about the acquisition of ‘the further shares’.

60,800,000 less the 46,020,000 they mention means 14,780,000 more shares to be acquired.

I’d be interested to read what others may come up with in terms of working the above approach in terms of dollars, rather than shares.

A couple of questions here about what they cutely call---- the acquisition of the further shares ---

At what price?
When?
From Galbally & Lunt/et al?
By way of a share issue by SEN.
On the market?

One possibility for Galbally & Lunt being offered 0.55 cents per share is than those agreeing to the funding may see more upside for SEN with that pair having less control.

Also buying at 0.55, although above the market, is probably less than they would have to pay if they went into the market trying to buy 46 million shares. That sort of buying would force the price up very quickly.