Orion announces discounted rights issue, hints at possible takeover
UPDATE 12.30pm: "I'm just a software engineer," chief executive, director and 50.5% shareholder Ian McCrae tells NBR Radio when questioned about the bargain-basement price of the new shares — half of which have been allocate
Tue, 30 May 2017
UPDATE 12.30pm: Cash-strapped Orion Health plans a rights issue to raise $32 million. The new shares will be issued at 90c, a 21.4% discount to the theoretical ex-rights price of $1.14 based on yesterday's closing share price of $1.20.
Chief executive, director and 50.8% shareholder Ian McCrae
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