1 Attachment(s)
The definitive this is how it works - maybe
The spreadsheet snip:
Attachment 7629
The explanation:
1,876,904,194 existing shares
322,443,352 new shares committed in rights issue with
322,443,352 options for further shares.
Assume that no one else buys in the book-build then Comvita buy
313,256,173 shares (for $2,506,049.38) and also get
313,256,173 options for further shares.
So then Comvita will have 12.47% of the issued shares in the company:
313,256,173/(1,876,904,194 + 322,443,352 + 313,256,173) = 0.1247
IF all the options are then exercised then Comvita will have 19.9% of the issued shares in the company.
Obviously if anybody else buys in the short fall book build then the Comvita contribution raises to maintain that final 19.9%.
The $3M is as I stated earlier
Best Wishes
Paper Tiger