Ann: Change in substantial holding from MAT , page-8

Puzzled Monkey, yes I aware of what was said in the Offer Document in section 2.10 - they "talked the talk" - the big question is did they "walk the walk" ? Time will tell whether they took up their rights but some simple sums are very telling.
BNR managed to place 17,213,899 new shares of which Matsa and Goldfire took up by my calculation 14,949,550 leaving 2,264,349 shares taken up by other existing holders so existing holders (perhaps management included ) took up about $68k worth of shares in the placement..... which tells me there was a very poor uptake by existing holders considering that $68k represents only 13% of the funds raised.
I will watch with interest,as will many others, for a 3Y ....if one appears- to see how much of their own "hard earned" management kicked in