RE:RE:RE:RE:Whatever your decision is, you should use the rights offerKishmere wrote: I see your graph. Very well prepared! Still dont know what 6.7 shares mean if i can get any shares at all!!!
Kishmere I see. I now know what you are not clear about. Let me walk you through.
Let's say that the rights offer is only for those who hold PLI shares (736M shares) before the refinancing plan and who are not SALP (because they too own 24M share before the recent refinancing).
The rights offer say that each share is entiled to buy up to 20 shares at 1.521 cents with a gross proceed
capped at $75M (=4.9B shares@1.521 cents)
What this mean is that the company will only sell up to
4.9B cheap shares to the origianl share holders.
Therefore, if everybody suscribe to 20 (the full amount), then it will be pro-rated (shared among all the subscribers)
4.9B/736M eligible=6.7shares So it will depend on how fully subscribed the rights offer is, for each
one of your share on the Record day, you can buy the pro-rated shares in rights offer= 6.7 shares (the least amount) to 20 shares (the full amount) at 1.521 cents.
Hope that this is clearer for you.