Orbis will come out of this well. No doubt they will fully participate in the rights issue. Also they will be offered sub-underwriter and would most like accept.
Post recap they will likely hold greater ownership percentage than now, and a big portion of the difference in sp and NAV will be assigned to them.
Then they just need to wait and they value will recover. Even if NAV gets into the 12c range, Orbis will have so many units at 6.7c that they only need to wait and in 12months they could see 100% gains.
IMO only, at 6.4c and 32c NAV there was a potential for multibagger here. Now with sp 6.4c(or even 6.7c) and NAV closer to 12c then the potential is much less(1 or 2 bags) BUT at the same time less risky.
Goodluck everyone. Time to free up cash before committing to the rights issue.
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