I don't think there will be much shortfall they've held the price up above $0.015 well meaning, nobody would let it slide when they can see the opportunity to unload at an instant profit although in reality probably not considering the amount of stock that has held it there is nothing on the 300M minus Hockings stake that will hit our accounts.
I also saw it as pretty much a move that had to be played with the amount of dilution we have had over the last year from 450M to 1B securities on issue & no other chance to adjust for it just had to play the hand.
My take is only shortfall we will see will be parties without an Australian address of which I'm pretty sure one is a Top 10 holder that took their position in the 2011 placement.
Pattersons would likely take it first since it's currently at a premium ? Interesting that RBS is no longer there and now Pattersons - maybe due to how the other CR's played out ? Guess whether Pattersons or Hockings takes any underwriting comes down to if the later wants more than 19.9% or not.
PYC Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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