RE:RE:Down 35thou. Got 1800 equity leftjames700 wrote:
You only have a 33% chance of buying rights.... ONLY 246M current shares will be able to buy rights....
James, your statement is
not correct.
Provided SALP and Consonace do not take part, the owners of 736M shares can all take part in the rights offer with a proceed capped at $75M (=4.9B shares at 1.1521 cents).
If all eligible 736M shares fully subscribe the rights (up to 20), then everybody get 1/3 of their subscribed amount filled (x6.7 instead of x20).
However,
not every eligible holder will either take part or fully subscribe, imo.
Therefore, this mean the rights offer will be fulfilled somewhere between x6.7 shares (worst case) and 20 (the best case) for those who do take part in the rights offer.