By Paul McBeth
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Thursday 16th April 2009 |
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The brokerage will decide on whether to exercise its call option and make a top-up placement of $22.8 million, or 15% of the shares on issue, at 23 cents apiece next week, according to a spokeswoman for Nuplex. The firm isn't limited to a using the full top-up, she said.
"They don't have to exercise it fully, and will maybe exercise a partial top-up," said Erica Lloyd, a spokeswoman for Nuplex. "They won't make a decision until the 23rd" of April.
The specialty chemicals manufacturer was forced to offer a deep discount and increase its capital raising to $132.8 million after global demand dropped, and the weaker currency increased the value of its overseas debt.
Yesterday was the last day rights in the placement could be traded. The shares were unchanged at 35 cents today, and have slumped 66% since the start of February.
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