On 13/11/2020 PYC made an announcement "Completion of Retail Entitlement Offer", the paragraph at the bottom of page 1 says:
"A shortfall of ~A$14 million worth of New Shares (~82 million New Shares) has arisen under the Retail Entitlement Offer. The Company retains the right to place this shortfall within 3 months of the close of the Retail Entitlement Offer at or above the Entitlement Offer Issue Price of A$0.17 per New Share."
By my calculation, that 3 months period would have ended on 13/02/2021. I don't think those 3-year options offered to the two new appointed Board Members would count towards this pool of $14M shortfall. Again I might be wrong. Please raise this question at the next Investor's Call on Thur 15/04/2021.
PYC Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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