howdy hawk- well they let him off the 18c and told him he could have them at 16c so who knows.
but if I was SHD board I would be a tad worried about the take up rate when folks have been buying them on market for 14.5, 15 and 15.5c, first principle of CR is to keep the share price above the CR price or make sure its all underwritten so some broker ends up with the shortfall