Supertim
You r right to clarify that one only gets diluted if their entitlement is not accepted in full. However what you need to understand is that the eps has been halved at the very least. It means that the company will need to earn double the cash earns from an eps point if view.further it puts a severe restriction on the sp movement as increased shares will result in it being harder to overcome TA resistance points. What usually happens with these juniors is they keep releasing shares and eventually having the need to consolidate. I firmly believe though that this was plv's only option as where else are gonna get money from.
TA is just guess work on plv due to liquidity issues.
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