Hi Folks,

Just interested in any views on the Elementis Rights Issue that has taken place in relation to the acquisition of Mondo Minerals over the past few weeks. I appreciate that the board decreased it's original bid after some shareholder pressure, but even so, today's news that only 87.59% take-up of the allotment doesn't strike me as a runaway success.

OK, I see subsequently that the "Joint Global Coordinators" have have procured subscribers for the remaining 14,407,262 New Ordinary Shares. But even allowing for the subsequent dilution, and the overall market slowdown due to a whole host of factors, the share price has taken quite a beating over the past few weeks, and my reading is that the market has not exactly given its unconditional support to the exercise.

Or am I reading this wrong? Any views appreciated!  

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