New bidder for RDH emerged this morning in ICT. ICT offering 6 shares for 1 RDH share. ICT @ $0.165 = $0.99 for RDH.
UCW had bid 4.5 UCW shares for 1 RDH. UCW @ $0.195 = $0.8775 for RDH.
RDH share price is up 14.2% to $0.925 this morning.
I'm curious, how many shares is everyone applying for relative to their existing holding? Personally, I am applying for 100% of my existing holding (1:1, entitlement + top-up facility).
The cash raised in both offers will easily see them through to the end of calendar 2021 according to their presentation and likely even further given they have raised more than anticipated. 1.5 - 2 years of survival cash will likely see them through to a vaccine and a return to normal for international travel and education here in Australia. Hopefully the mentioned international student travel corridor will be allowed much sooner and students will again flood in.
I am very confident I will do well with my increased position size in RDH given a 3 year outlook. FY21 accounts are likely to be very ugly so it is not going to be a smooth ride.