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Exactly Stockdale, it's not about individual investors, it's about the company filling the placing, which they did and it was oversubscribed.... Not rocket science...
Interesting logic from Steven. Because not everyone took up their allocation it therefore wasn't oversubscribed. What? Oversubscription refers to the requested number of shares exceeding the maximum available. That's it. Simple. And that's what happened.
Strange I normally see corporate actions in my account, I completely missed that I had to apply so kicking myself. Regardless I am happy to be in ODX long term and especially with the current pandemic making medical stocks more attractive and with the wider backing / positive sentiment they have.
me too. could have got at 39p yesterday . so what. having ODX fully funded is more important than pips. good news from here
"Interesting. It seems that those that wanted shares also asked for extra and did not get all the extra that they were hoping for. But nearly half (46%) didn't even apply for the basic entitlement."
I don't think that's what the sentence in the RNS means. The 54% relates to the number of shares available in the OO - not to the number of eligible investors. My reading of the initial offer was that the number of shares that were being offered exceeded the number that would allocated using the 1:20 entitlement.
Good news. Got my basic & some extra. Glad to be supporting the company fully in their efforts. Onwards & Upwards from here.
I think you’ll be getting a refund of sorts.
Got all I asked for, Wasn't a huge amount but good to see the interest was enough. GLA
Interesting. It seems that those that wanted shares also asked for extra and did not get all the extra that they were hoping for. But nearly half (46%) didn't even apply for the basic entitlement.
I could be wrong with the maths but it looks as though investors will be getting a little over half of the extra shares they have applied for.
It seems clear to me that in total 136% of the Open Offer Shares have been applied for, therefore there will be scaling back on any extra shares applied for.
Nope, it's over subscribed.
The Open Offer closed for acceptances at 11.00 a.m. on 7 July 2020. The Company has received valid acceptances from Qualifying Shareholders in respect of their Basic Entitlements in respect of 4,089,048 New Ordinary Shares, representing approximately 54 per cent. of the Open Offer Shares. In addition, the Company has received applications from Qualifying Shareholders under the Excess Application Facility in respect of 6,138,510 New Ordinary Shares, representing approximately 82 per cent. of the Open Offer Shares. Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlements. As applications under the Excess Application Facility cannot be satisfied in full, applications for New Ordinary Shares under the Excess Application Facility will be scaled back in accordance with the terms set out in the Circular.
Seems to be some confusion in the figures. The way I read it is that the 82% also includes the 54% who wanted extra. I could be wrong but thats how I read it.
There were a lot of people on here saying it was oversubscribed and they didnt get there allowed amount .
Someone said they ask for more and was surprised they got them. Someone said it was oversubscribed they didnt get their desired amounts. Someone said FINNCap shorted the book ?? Finncap advises companies of how much to raise and at what price to the market. -they take a fee for this. !!
I try to keep a balance view and post the facts, there are lot of people on here who dont seem to read RNS's
You were only allowed 1:20 - with an option for asking for more if the balance wasn't subscribed in full.
It wasn't oversubscribed the Majority (54%) didnt want them, so the leftovers went in the pot for the the others , and was gladly taken up by the minority
This could be as people cancelled their OO and bought direct yesterday at 40 or below, like me.
I think we are all on the same page, a certain few just seem to twist the info, and only look at 1 sentence. thats all I was trying to point out.
I would also like to point out yesterday I clearly stated today would be blue and we would close at 42p, so far so good. GLA
The end result is they have the money. Those that wanted the basic amount got them, those that wanted more than basic have something but maybe not their full request. I imagine they are the ones buying the stock at this price now.
You just have to READ the rns.
Agreed Dodge. Not sure what stevenmerret is getting at but think his logic is incorrect. Everyone was guaranteed basic amount. I applied for excess and understand from the RNS I will get the excess scaled back as it was Oversubscribed. Not rocket science is it
Dodge - spot on.
No wonder people get disillusioned by some of the nonsense and incorrect information posted on here.!
haha dodge, I love people like you. I'm sure I could have a good argument with you.
Here's to a positive day, whatever our differences may be.
READ the RNS, no wonder so many people get disillusioned on here And the amount of twisted info.
Only 54% of the people allowed to participate in the OO did so. The remain shares where taken up by people asking for an extra amount. Thats why it couldn't be satisfied .
The Company has received valid acceptances from Qualifying Shareholders in respect of their Basic Entitlements in respect of 4,089,048 New Ordinary Shares, representing approximately 54 per cent. of the Open Offer Shares. In addition, the Company has received applications from Qualifying Shareholders under the Excess Application Facility in respect of 6,138,510 New Ordinary Shares, representing approximately 82 per cent. of the Open Offer Shares. Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlements.
You will get a percentage of the extra you applied for that were on top of the OO entitlement.
GLA
I got my lot and more (surprised)
An old boss once told me, ' it's better to ask for more than what you really need. '
That was in reference to a pay rise, but works here too in the open offer.
Seems some might not get their desired amounts
"As applications under the Excess Application Facility cannot be satisfied in full, applications for New Ordinary Shares under the Excess Application Facility will be scaled back in accordance with the terms set out in the Circular."
What makes me laugh is when the likes of Ramirez say things like 'if they get any contracts'. Might be worth taking the time check out last annual report. Of course they'll get contracts question is how many and what size. Looking forward to finding out.