bell potter valuation 12c, page-3

Valuation target would have been increased following recent announcements but on flip side more dilution from rights issue.

They actually have been smart to do capital raising now as ensures solid participation and with expected good results rewards shareholders (investors) with top up at lower prices.

Fact traders like me got burnt on last trade and had to eixt when announced rights issue they could not care less about as they are more interested in building a stable share registry of investors

Hence not so sure they have been dumb as been upfront about doing this cap raising and probably knowing would have this deal recently announced coming out in view of negotiations being done.

Traders of this stock like me might be disappointed but long term investors should not be.

Anyhow just my thoughts as outsider