It's moot for now because Glencore appear to be content with being diluted. But this may not always be the case.
I'd be interested to know the answer if anyone can oblige, because it may become important if/when YTC issue another raising to Pacific Capital down the line.
Another raising will dilute Glencore even further, and it makes me wonder why they made that initial investment in YTC at all if they did not intend to follow through..
Have Glencore changed their stance? Will they start selling now that Pacific Capital have moved in on their turf?
If they are not looking to maintain their % holding I can only assume they are looking to sell in the short term.
YTC Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held