Hi Sonu69.
I think you may be surprised at how many shares Board members and management bought in the Rights issue. You will see some of the number changes when the new numbers go up in a few weeks however the numbers bought by family members will not show. Increases in the holdings of spouses, children and superannuation funds held by Board members will not be known. Board members and management realise that by buying already issued shares it adds nothing to the cash held by the Company. Therefore I would think that there will be an oversubscription by the group mentioned above. Not only that but the options that go along with the Rights issue shares do not need immediate cash up-front.
That is the way I would have gone if I were management.
Cheers.
Hi Sonu69.I think you may be surprised at how many shares Board...
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