This sad sad stock has me a bit perplexed. Perhaps you can help me out and explain:
A 2 for 3 cash issue is obviously massive. 210m new shares to be issued.
Given that the short fall is, in my opinion likely to be massive, coming so quickly on the back of the previous issue, Paterson's are going to end up with a huge number of shares creating a massive overhang!
How is it that NWE convinced Paterson's to underwrite this issue? What is it that NWE's management has told Paterson's that has convinced them they will not only be able to get out with a clean skin but, but presumably turn a buck?
The only thing that is apparent to me is that there is going to be a massive shortfall and that Paterson's are going to be in the Top 20.
Being perverse, but makes me think that there is something that they know that I do not.
Is this possible?
signed
Truely Perplexed
P.S. Do you know where KB is?
NWE Price at posting:
1.4¢ Sentiment: None Disclosure: Held
