OK im all in for the mighty sum of $200 today
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OK im all in for the mighty sum of $200 today
They would have reached agreement already with the banks about the level of new equity required to refinance the bank debt into longer term debts.
One possible scenario - $200m to be raised via a 5:1 at 20c, underwritten by Bright. Depending on the shortfall, Bright will be hoping to increase its stake to over 60%.
Fly in the ointment for those of us looking for a play during the CR is if SML makes the rights non tradeable.
Now that would suit the underwriter(s).
Fly in the ointment for those of us looking for a play during the CR is if SML makes the rights non tradeable.
But that would suit the underwriter(s).
we want a rights issue where existing s/h can apply to purchase as many shares as they want in the rights issue
SML sp on the move - 27c vs low of 20c last week.
Must hand it to SB888 who braved the doomsday merchants and bought last week.
Not for me still though - I prefer to wait for the CR.
Only issue now is that the CR rights may not be tradable and that would be a bummer.
A2 keeping quiet over voting intentions
Maybe not going to vote …sometimes a good strategy
http://nzx-prod-s7fsd7f98s.s3-websit...095/422255.pdf