santo and molton selling

So the latest developments are that Santo and Molton have had the resolutions to grant the sub-underwriting options pulled.

Prior to that they had been dumping on market.

The question now is will S&M sub-underwrite without the options and if not will Euroz continue with the underwriting agreement (given it is conditional on S&M as sub-underwriters (my understanding)).

Seems that OEL may have a few more announcements to make to clarify the situation over the next day or two.

BTW, this could be the second aborted raising as those who have already subscribed to the offer did so on the basis of it being partially underwriten - if that changes I would imagine all the cheques must be sent back and the process starts again...

p1000