By my calculations QVT will own a bit over 42% of the shares on issue (if all options are converted, gets worse if not)
There will be 351 million shares on issue, meaning that at posting date a 14.5c share is reduced to 8.2c.
or alternatively a 14.5c price post-dilution is 25.6c price pre-dilution.
Shouldn't the shares have been converted when the price was higher?
Maybe this is a sign of the bottom. who knows?
major announcement with qvt, page-10
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