There will be a bookbuild process on March 8 to determine the price for extra shares existing shareholders wish to buy. The price cannot be below $5.
Printable View
There’s no point bidding for shares early since you’ve got till the 6 March to do so. You won’t pay more than $5 as they are using a Maximum Retail Oversubscription Price, however If the share price were to fall below $5, you’ll still have to pay $5 a share. So it may be beneficial to wait till closer to 6 march before making any commitment.
Has anyone commented on the repayment of the USPP, $130m in fees to repay $290m of debt early - am I reading that correctly? It’s going to be one hell of a shareholder meeting eh, totally tanked their reputation as being a good steward of shareholder capital!
Jenny Ruth on Business Desk says:
Try and get hold of the whole article (they offer 10 days free, it's worth taking a look, they have some good articles). She paints a dire picture of their debt management. As she notes, they could have called upon the loyal shareholders any time to raise capital except they had a numb-skull pride in never having raised capital!Quote:
... the directors might just as well have set fire to hundreds of millions of dollars...
I took the simple option of selling the RYMRA rights on the first day at 60c. No hassles. They are now trading at 39.8c.