How many shareholders with MCM are thinking about taking up there full or part of the entitlement? Or are there shareholders that will try and sell there shares and buy the rights offer, which are now trading on the ASX under the ticker (MCMR), which will entitle them to the offer. Or will some holders just sell there rights only.
l personally haven't had much to do with a renounceable rights offer before, so need a little help from the experienced holders. Take it that every 1000 shares a holder has prior to this offer, the holder will be issued with 1012 new renounceable rights for the raising of funds. Its then up to the holder to work out if he / she wants to proceed with taking up either a full allotment or exercise part of your entitlement, or sell some or all of your rights on the ASX (MCMR) between 11/10 - 27/10.
So would l be correct that if you do not take up any entitlement, and do not sell your rights, after the rights trading ends on the ASX (27-10), the underwriter will take up full entitlement, as it is fully underwritten?
Think this would be a good discussion point on this forum, as there is only 12 trading days of right trading on the ASX.
MCM Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
