POZ recently announced a rights issue of 40,292,083 shares at 1 cent per share. I share per 3 held. The notice advised shareholders that if the initial offer was not fully subscribed , current shareholders would then be offered to purchase extra shares by increasing their initial payment. If AFTER that process, any shares were still outstanding, the underwriters (mainly directors) would purchase the balance. On 12/6/13 directors announced that only 18,522,811 shares were accepted. A shortfall of 21,769,272 shares. The board has decided to allow the underwriters to purchase the balance of approx. 21m. at 1 cent without satisfying shareholders first. POZ is currently 3.3 cents ?????? MERLIN
POZ Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
