The offer was offered to all shareholders who qualified - these are UK residents - this excluded the directors and such who were told they could not participate in the offer - of the ones who qualified more than 90% took up their rights - I believe this to have been just over £4m.
The reason the directors and such were not allowed to take up their rights was to guarantee some shares would be available to institutions.
After just over £4m were taken up by UK shareholders (the ones allowed to) this left just over £3m for sale to institutions - these institutions had applied for around £12m worth of shares - sorry not available - therefore they were all equally cut back to around 25% of what they applied for.
Well, that's it really - hope this clears things up for you geniusjohn55a????
Once again, the SEO shareholders on here appear to prefer to discuss BPRG - not a problem, lets start the New Year as we mean to go on eh???
Ah, I get it now - SEO shareholders do not understand RNS's of substance - they are only used to empty RNS's and sometimes ones that have to be corrected or ones about a new company being set up or the appointment of a 'Best Before Sell Date' director!!!
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