Signs look bad ; but the capital raising is big and a new direction could be happening here , with a new squad of shareholders . Otherwise the stock is rubbish if the capital raising doesnt go through....
This must be a high profile cap raising, it turned up on Yahoo news.
New shares issued at 7c each. Quite dilutive.
The surprising thing for me was how moderate the discount was for the new shares, last traded at 10 cents prior to halt, and it's underwritten so cash is gauranteed.
Compare this to our NPX where trading at $1 prior to halt, and new shares issued at 23 cents, I think OEL have done quite well.
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