Originally posted by excitable2
Hardly Bobby, a mammoth opportunity perhaps, but the currency of the SP and how it pertains to the RI is well understood and under regular discussion here.
So, are there any positives with the SP/RI alignment? Let's think...
As I see it;
- Those happy to support our near term endeavours through the RI will not have any ST trading strategy options, effectively providing a SP base...tick
- The shortfall, very likely to have already been underwritten, will be at the same price with just enough placement embellishment to make it worthwhile to the underwriter...tick
- That/those underwriter(s) will have the tools and ability to pump the SP for an exit strategy that'll give them (you) a reasonable time/risk return...tick.
So, relative to the RI, I can't see any negatives with the SP at the moment, particularly for those looking to take a position, or participate.
Away from the RI relativity, there are plenty of reasons to feel disappointed, of course.
"Follow the money" is the oft used phrase at this end of town...Well, there'll be plenty of 'new' money in at 1.8
*NB:
that $0.018/£0.01 parity around the rights issue has since been bastardized by the Aussie falling further against the pound. There's a 3% odd arbitrage there at the moment, for those able to play clear.png
Letter to Eligible Shareholders – pro-rata non-renounceable rights issueAs announced on 3rd October 2018, 88 Energy Limited (ACN 072 964 179) (Company) is undertaking a pro rata non-renounceable rights issue (Rights Issue or Offer) of approximately one (1) fully paid ordinary shares (New Shares) for every seven (7) fully paid ordinary shares held to raise approximately $14.33m / £7.96m. The price of New Shares under the Offer is $0.018 / £0.01 per share (Issue Price). The Company lodged an Offer Document (Offer Document) on 5th October 2018.The Offer is being made to all current holders of:• ordinary shares; and• depositary interests;of the Company, named on its register of members at 7.00 p.m. (AEDT) in respect of ordinary shareholders and 6.00 p.m. (London time) in respect of depositary interest holders on 10th October 2018, whose registered address is in Australia, New Zealand or the United Kingdom (Eligible Shareholders).
The Offer is not underwritten
I believe that you should have included the next line, lest anyone be deceived by way of information omission, innocently or otherwise.....
(20min delay)
