Thanks Sweet Crude.
I would also expect it to be ordinary, but I'd like to make sure!!!...Imagine if it was preference priced at 0.80 cents!!!!
While it is good that finally some interest is being shown by instos. I can't say that I am fond of the way this placement happened.
Doing it this way will cause some dilution, and prevents the sp from rising, since it wasn't bought from the current outstanding shares!!!! Hence my earlier (morning) question.......
If it was bought on the open market, imagine how much the sp would have been by now, rather than the recent falls and settling at 0.885.
Don't get me wrong, I am glad that some instos are finally showing serious interest, it's just that I don't think it's healthy to have this sort of "one of placements" happen all the time.
If the strike price is 0.80, then as others have said, this will be reflected in the sp when it starts to trade. Whether it actually reaches 0.80 or eatablishes a lower price, this is yet to be seen.
2 things are for sure, other instos should start to evaluate this stock, and the sp will be re-positionsed to reflect the strike price, when it start to trade.
Cheers
VCR
ventracor limited
