SBN can't make a raising that is greater than 15% of the company without SH approval. Therefore the max is 15% of whatever the coy is now worth.
Don't have the figures with me but whatever 15% outstanding shares is less 20M would be the distribution to all SH - therefore if oversubscribed we will get our allocation reduced by some amount.
Either way, its a) more shares at a good price and b) funds for running the business, with only a small dilution affect and a good part that going to SH anyway...
IMO of course.
SBN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
