update on entitlements offer, page-4

Spot on Mav. The speculated new deal still results in a high level of dilution and will guarantee a low SP when re-floated. If its revenue/cash situation is improving VDM Group might have tried to leverage the banks/instos in to a less dilutive cr, which might tempt more retail investors to take part.

From May, when the CEO told us no CR was being planned and debt was being re-paid at current revenue levels, through the CR announcement in June just six weeks later, the decision to make it so dilutive under pressure from instos and now this CR 2 which seems to be even more dilutive (based on the dribble of info), this has been a tragi-comedy.

BTW, have participants in the 1st CR been refunded their money, as per the prospectus?