shares currently issued = 636M and adding 450 to 500m; so if you don't take up shares you will severely diluted.
What is unclear (to me) is how the CR is being managed. It is not a rights issue (which would have been the obvious way to do it) Are we being offered shares on equal basis, regardless of current shareholding? Or are share placed to 'others' with the slack taken up by current holders? It is underwritten, but that is cold comfort at the moment if I am going to diluted. And how do we even begin to value the new entity, we have been given bugger all in this regard, some background on other 'similar' companies would have been helpful... Could someone help be tighten up some of these holes..
ECQ Price at posting:
2.8¢ Sentiment: None Disclosure: Held
