not totally unexpected. perhaps a small retail component, but usually not worth the hassle, especially in the current climate (and previous participation rates), so small holders are bent over a barrel and forced to dilute for the good of the sophisticated types.
the discount together with the oppies does seem excessive. would like to see a detailed budget for the funds raised considering the terms and the time taken to get their number.
2.85 - 6% + 1.4 gives us ~4 mill once t2 comes through.
SMD Price at posting:
8.7¢ Sentiment: ST Buy Disclosure: Held
