Because the final US dollar purchase price is $0.0898 lower than the $0.57 deposit paid in by ADS holders who elected to participate in the rights offer, those participants will receive a refund of that amount from the depositary for each right exercised.
Should have offered to issue the equivalent refund in shares rounded up to the nearest ADS. Rather than refund cash. So thats $168k of exchange rate amount refunded.
The whole idea was to issue shares to raise cash wasn't it?
Good to see nearly at TD with Sail & boat Anchor.
Because the final US dollar purchase price is $0.0898 lower than...
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