No it won't be weighted next year and there will be even more shares on issue at the half way point again next year when much of the $25m bonds convert to shares.
One positive if not two is that this stock will be coming close to Top 50 consideration as the free float increases and if the SP could increase a bit more may come into contention. If that is a good think one can debate, but at $3.02 I shall be buying a few more. Agree with others that a rights issue is far more equitable than a SPP.
A placement is where,in this case, broker UBS says they will place $25mil of shares to their clients.If they can't place them, UBS takes them.
SPP is to existing shareholders.
I rang Craigs this morning and said I would take X amount should UBS offer them any.I doubt they will,but you never know.Always pays to be "well positioned."
For this SPP, assuming everyone participates, do we all get an equal amount of shares? Will it be scaled based on how many TRA shares we already have?
The timing of the Hugh Green selldown at $3.35 a couple of months back a tad suspicious, huh???
Yes on page 2 or 3 and more on page 26 of the presentation.Extra dealership acquisitions, will offcourse lead to extra lending etc.
So the extra bank,plus the extra money from current bank,plus extra securitization,means extra fun.
Makes the extra $30mil being raised to very small,but it is capital,and that will support the extra fun.