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63m shares to be issued but as far as I can tell price has not been set yet.
So do shareholders sell and hope to buy in lower or hold and hope price is not at massive discount .
Australians are halted which means they are locked in.
Hopefully the price will hold but it's hard to know with the uncertainty in the process.
Think any placing shares in Aust are subject to lock in period but don't think UK shares will be.
But it is good they are going to get funds to get things moving.
Good Luck
I believe nearly 15% below last price and a little more below 5 day average. I also understand it filled very quickly and the extra (5 mill) was also raised.
As to where the share price goes all I know is whenever I take part in a placing it goes down. I expect DNK will be trading on ASX tomorrow, interesting to see what it does on LSE today.
I suppose its not a bad price at 24p
But also noted that even though they said it was heavily over-subscibed they only placed just over 47m a bit short of the 63m that was available.
Think they should have could have left that out just a bit embarrassing and also maybe not raising enough for finance latest plans which isn't what I wanted to see.
Goid luck
Yes I think you are right in cold light of day. However feeling quite excited that this might finally be moving in the right direction. We will see in the coming weeks if cause for optimism. I am prepared to average up.
Having reread the news release I believe the limit of 43 million shares was so as not to have to issue a prospectus on the LSE. So actually they hit their target;
3standsoffbottom, this is what I read
The capital raising is being conducted in Australia and the UK. It will take place in a single tranche within the Company's existing placement capacity under ASX Listing Rules 7.1 and 7.1A and will not exceed a level that would require the publication of a prospectus in the UK, resulting in a maximum capacity to issue up to 63 million ordinary shares.
Then I don’t know why they limited it to 43 million, I will try and find out.
So maybe a typo? "The allotment of 47,296,231 Placement Shares is not subject to shareholder approval and will fall within the
Company’s 15% placement capacity under ASX LR 7.1 (15,327,397 Placement Shares) and additional 10%
placement capacity under ASX LR 7.1A (31,968,834 Placement Shares)."
So 47.3 allocated and 'oversubscribed'. At any rate let's see if it translates into activity.