Pattersons only get 1 option for every 4 shares they underwrite , it is not known how many shareholders will not sell their rights or not take up their full entitlement ? most shareholders would sell their rights and get some money back , I wouldn't think it would be very many that silly ? Pattersons will not get 33 million or even 15 million?
The Rights Issue is to be underwritten by Patersons up to $6.2 million. In consideration for underwriting the Rights Issue, Patersons is to be issued with options exercisable at 15 cents on or before 31 December 2019 on the basis of one (1) option for every four (4) shares underwritten, subject to shareholder approval.
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Pattersons only get 1 option for every 4 shares they underwrite...
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