One of the exceptions to the rule of having to make a takeover offer for the company once 20% is reached is if you act as underwriter to a rights issue. So expect the price to be kept under 18 cents pre entitlement date to limit take up of the offer by current holders thereby giving Harlequin the opportunity to significantly increase its ownership above 20% legally.
K2P Price at posting:
16.0¢ Sentiment: None Disclosure: Held
