I know it's a different company but PEB on nzx did a 1 for 7 at 63c to all holders when their heads were 1.50 plus with no pull back in the heads when the options converted, in fact their shares went up.
Yes agree with fellow HC members about letting the shares run then a cap raising but do see this as an opportunity for current holders to buy hard at 2.5c also.
ann out on cap raising, page-61
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