OTCPK:KATFF - Post by User
Comment by
topdopon Nov 21, 2019 12:39pm
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Post# 30378871
RE:RE:RE:Final Short Form Prospectus is out
RE:RE:RE:Final Short Form Prospectus is out@Nolimits ...and please realise that if KAT continues to trade BELOW the RO issue price, then our KAT.RT shares will not have a market - nobody will bid on them and they will effectively be worthless as a trade.
That doesn't mean you won't still be allowed to use them to acquire the underlying RO shares. You can.
But why buy RO shares at 12.95c each if you can buy any cr*p load you want in the market at 11c?
Ahead of the Final Prospectus coming out, I had suspected that just 1 in 20 underlying Rights may have been converted. At this rate, that looks aggressive. I suspect it might be closer to 1 in 100.
Doesn't matter. Glencore will soak up all of them anyway as "backstop".
These are my views only. Thanks for reading.