The 16% was on June 30 as reported in SER annual report.
That was 3 months ago and whatever new capital Ionic have raised in the meantime will dilute that.
Ionics CR in the 1st half was @ 4c per share - I assume its still @ the same level because Ionic have not advised otherwise.
I do expect Ionic CR in 2019 to be higher though, on back of the JV and the supercaps
SER JV with CLQ CleanTec, page-16
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