Wow what a huge slap in the face for holders, why on earth would they make the entitlement price so low, basically signalling to the market what they think the value is, and just wiped off half of it market cap and share price.
Whoever made this decision really needs to answer to shareholders, they basically just devalued the company by $30 million by that decision. And now who would give money to these guys and take up the entitlement when you are giving money to management that makes decisions like this, unbelievable, feel for holders here, and congrats those that got out on open.
Same old story with a lot of these stocks management are ok because they get paid 100s of thousands in salary and performance rights, whilst shareholders lose everything.
OSL Price at posting:
1.5¢ Sentiment: Hold Disclosure: Not Held
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