Ann: PHG: Investor Presentation, page-4

well I would have thought some businesses would do a rights issue and provide the discount to their existing shareholders, but it would seem that PHG in their wisdom has decided to issue another circa 150 m in equity to deliver a 30% premium to the target company and the existing shareholders in PHG get to trust that the benefit to their subsequently diluted shareholding will be in some future cash flow down the line whilst the 29% owner of PHG gets said 30% premium on their 16% share holding of the target company .....