Interesting if this offer is made to existing shareholders. This usually means that you have to be a resident of Australia or New Zealand.
Drake had the chance in the previous cap raise to take up any rights that were not taken up by local residents but forfeited that opportunity.
Drake can not take up the offer to shareholders as they are in the U.S.A., as I understand the situation. If SMN do not offer Drake the opportunity to take up any shortfall their ownership of SMN will be further diluted.
Drake, you had your opportunity at 90 cents & you declined so why should you be given a second chance at 35 cents?
I hope SMN board raises the cash locally & does not offer any to Drake.
I have more than enough SMN shares but would still support the company in taking up any allocation offered to me.
SMN Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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