renaissance capital, page-33

I notice that they have upped the maximum raise to $US75m and the shares to be issued revised down to 5m. Assumming the maximum is raised, this represents $US15 per BNTC, or $AUS1.04 BLT. But, what I am more interested in is the fact that because of the higher cash balance and reduced shares, the cash backing of Benitec represents AUD 60cents. At 92.5cents now, this seems very cheap and WAY lower than the 3-6 times cash backing that most comparible companies in the US are trading at. Even the ones that have failed to impress with their PI/II results.

Anyway, is it too much to ask management to at least inform shareholders of changes to their filings at the SEC? I guess so.