Ann: Trading Halt, page-24

It’s an entitlement offer. You realise that, right?

If I were a current institutional SH and I got a call from someone with a large short position that was looking to take my entitlement for the rights issue, I’d laugh. Unless they are entirely unable to fund their entitlement, why would they facilitate short covering when the alternative is a massive squeeze resulting in their existing holding plus their new 15c stock rocketing? I’m sure there’ll be some deal making but I doubt they’ll clear that much to short sellers (unless it’s at a decent premium).