STANELCO Plc>>THE LATEST INFORMATION.

Well John,I'm no Genius,but I reckon it goes something like this: CS underwrote the Placing ( and may well have required that the Directors and US investors were disquallified in order to guarantee a certain quantity of stock for the Institutions),but allowed a claw-back arrangement whereby UK investors could subscribe for stock on a 1 for 6 basis;of those shareholders who quallified,some 90% (including myself)subscribed.For f*ck's sake,correct me if I'm wrong.
edit:
Jack!! 45%???!!! Shame on you!!