Flinders, that is half correct, but they don't just lapse, they would be bought by the rights issue underwriters.
If you can't afford to take up your rights, you CAN sell them, but wouldn't it be more sensible to wait and see if there's a price rise in the next couple of weeks, rather than hand them on a platter to traders?
That is only imo, not advice, just giving food for thought.
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