Exactly. Means Lew has to put in another 20 million just to maintain his position. If he doesn't, he gets diluted, if he does, the management team decides how to spend his money. Not much options for Lew, other then placing a hostile take over bid at a slight premium to rights issue, say ~40 cents, that would still be a lot of money even for him. Anyways, will be a battle if the news is true. Even Lew takes over he's left with a company worth much less than IPO, management team all get fired, shareholder suffer share price fall, no one wins.
Ann: Q2 Trading Update, page-237
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80.0¢ |
Change
0.010(1.27%) |
Mkt cap ! $665.4M | |||
| Open | High | Low | Value | Volume |
| 79.0¢ | 81.0¢ | 79.0¢ | $2.299M | 2.872M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10060 | 79.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 80.0¢ | 37136 | 2 |
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