Recent fundraising21 Jan 2014 10:51
Re-reading the RNS, I came across this section: "It is currently anticipated that pursuant to the Retail Offer, eligible Shareholders who are Shareholders on the Record Date will be entitled to subscribe for 2 new Ordinary Shares for every 11 Existing Ordinary Shares held. Under the Retail Offer, eligible Shareholders who are Shareholders at the Record Date will also be given the opportunity to apply for additional new Ordinary Shares in excess of their entitlement to the extent that other Shareholders (including Shareholders who have participated in the Placing) have not taken up their entitlement."
So, if this plan is confirmed, it looks like we'll have an entitlement to purchase 2 additional shares at the offer price (3p) for every 11 we held at the Record Date. It doesn't mention continuing to hold the shares but this is normally a requirement. In addition, we can apply for shares over & above our entitlement in the event that some investors choose not to take up their allocation. Only indication of timescale is Quarter 1, so could be any time from now until the end of March.