I am trying to work out the current cap raise details.
A non participating preference share at $1 with a 15% p.a. coupon plus a non liquidating preference share.
So does this mean a 2 for 1 issue so its really 50 cents a share when all converted plus the capitalised portion of the 15% coupon on the first non participating preference share.
Need more details.
The good news is they already have commitments for the $6 mil minimum from existing instos and management.
