PREMIUM placing3 Dec 2013 07:49
Yes it looks like the company will have an indirect/direct 45% stake in new company operating in the Far East and I believe this relates to the Live Nation news the other week. The placing AND open offer is at £ 1.56 ! However before getting too excited - this is after a 1 for 24 share consolidation - so 6.5p. I worked it out that existing shareholders can acquire 1 new share for every 6.66 shares held post consolidation of the share issue on 27th December. So to issue shares at a 18% premium to current share price is a) unusual and b) suggests confidence in the future and more news to come!