You'd have to ask the market - perhaps some holders were really keen on Midrim, not sure, but it was pretty clear that Midrim wasn't a priority to MEI. Thus, after the transaction is completed MEI will be a 12-15% shareholder of TTW which isn't too bad considering what happens if TTW goes well on the back of it!
Workings:
Current TTW shares on issue: 206,961,921
Shares to be issued to MEI: 31,250,000
Shares to be issued to another party on different transaction: 15,750,000
Total TTW shares on issue afterwards: 253,961,921
31,250,000 divided by 253,961,921 = 12.31% MEI holding in TTW
You'd have to ask the market - perhaps some holders were really...
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