Quote Originally Posted by Harvey Specter View Post
So is the discount only on additional shares taken up or on their pro-rata right as well. I guess it is effectively an underwrite fee with no obligation - why offer it? And how big a shareholder do you have to be to benefit?
I hope I read that right. When Wynyard issue the news that major shareholders (probably only Skipton) made a commitment to take up the rights and any oversubscriptions, that effectively cost the company the effective underwriting costs. They make mention of oversubscription. What does that mean, what is the extent that Skipton will be buying shares at the discounted rate over and above their pro rata shares?