RE: upside4 Aug 2014 13:15
The Placing
Peterhouse Corporate Finance Limited, the Company's broker, has conditionally raised £3.3 million (before expenses) for the Company through the placing of 41,250,000 New Ordinary Shares at 8 pence conditional on the Resolutions being approved by Shareholders at the General Meeting and Admission. The net proceeds of the Placing are estimated at £2.8 million and will be used to develop the intellectual property of OptiBiotix, to commercialise OptiBiotix products and for general working capital purposes. Once the Placing Shares are admitted to trading on AIM, the Placees will, in aggregate, hold approximately 57.5 per cent. of the Enlarged Ordinary Share Capital.
The deal is in consideration of 25 million of the 71 million shares that on its own is worth 30% of the company ... and also management own a good chunk.. where did you get your 7.7% from?