Maybe the Goodmans are a bit short on readies.
They sold about 18 million units off-market, to take up their 20 million units in the rights issue, so only put $214,000 cash from their pocket.
The $10 million they got in dividends maybe they keeping it for a raining day, and don't intend to purchase more stock in the company. Better to participe in a placement at least it puts cash into the Company.
I read somewhere that Goodman admited that part of the dividend was financed from the capital raising.
4 directors bought shares 27/02/08, page-10
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