ADX
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0.00% 9.7¢ adx energy ltd

rights issue massively undersubcribed

  1. Good Oil
    5,934 Posts.
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    02/06/10
    17:56
    Post #: 6763647
    Oh Dear. Only 60% odd uptake. 21m shares left to the underwriter!
    Question now is , will the underwriter take the shares or envoke exit clauses. If the latter is the case then drilling may be delayed by funding issues further pressuring the SP?
    Either way a whole heap of shares will likely come on the market in the short term imo. Holders must be gutted. Comments?
    DYOR
    ADX Price at posting: 18.0¢ Sentiment: None Disclosure: Not Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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