The 90,000,000 shares where placed at o.5p and as phmurpy01 says the discount was 33% ,the Share Price had ticked up on the days leading up to this so the discount at the time of this being agreed was app 20-25% which is pretty much standard these days . The company had always said that they where going to place the 91,666,666 shortfall shares that where not taken up by Sandy Littlejohn at 0.33p so this is not a complete surprise .
So yes they where cheap but on the plus side they raised an additional £150,000 above the £ 300,000 they would have had form the original 91,666,666 shortfall shares.
SGZ Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
