why is pwt going up??, page-3

It doesn't make sense to me. It looks like somebody wants to take a position ahead of the shareholder meeting to vote on the rights issue. That should be a Special Resolution requiring 75% approval to pass.

That may be fanciful but I can't see any normal reason for nidding the shares up. Maybe getting rid of Williams (and their dreadful appointed management) is a good sign but the shares must fall if the rights issue goes through. It's not as if the debt will be lifted - there will still be $80m debt to banks.

Maybe it's the banks taking a position? Can't see the logic.