Yes - I am very surpirsed that not all the shareholders took up their rights! I mean the current sp is ahead of the issue price so it means that they must be short of cash. At least 73.7% of shares were taken up leaving 1714377 remaining. Didn't the memorandum mention that 1 million will be allocated to Coupland Cardiff Asset Management in the event of a shortfall? That leaves 714377 shares which hopefully will be absorbed by another institution. I guess the only downside is that Ferraus will have to pay fees to ABN Amro Morgans for this placement. I should have applied for more!
FRS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
