Results of the equity placement have been announced on 18-Oct-2012. 128.0m shares have been issued at 17p, which works out at £21.8m, or $35m. The placing represents approximately 38% of SHG’s issued share capital prior to the placing. The market reacted well to the announcement. Ketan Patel, a non-exec director agreed to subscribe for 11.0m shares.
Quite a bit of dilution there. It will be interesting to see the unfolding story.