(ITE)
Rights Issue.
All of what cloaka says, makes a lot of sense to my asesments....
Also.....
-Do not ...necessarilly; ....imo, judge a good Book ....by its Cover....
Couple of Key Points.....
(1) Note the Date of the Prospectus--30 May.-
-....and even then.... they allow themselves ....some further "wiggle room".
(2) Note.... "where" ....these rights issues--shares wil be Traded.... London.... Not.... on the ASX.....important point when you think about it.
(4)Note the amount.
Only $2.4 m--which is underwritten.
Divide that by say $10K as a max/min- subscription-- =240 .......think about the implications.ie: --it will not cap the real (ITE) share price; as it is too inconsequential.
(4) Note the merger discusssions....
Conclusion.. Do not discount the fact that this--- Rights Issue--- may be deemed by mgt--to be proven to be unnnecssary-- and never ever go ahead.....
-Instead think about the possiblity that (ITE) is sending a clear "smoke signal" to the current bidder....
....that they(ITE) will not run out of cash--and that they will have now, none --nil-- chance ....of doing so....so do NOT delay the negotiations with that in mind.....
(4.ii.)-- And of course that will hasten Bid Nuber One onto the table.....which I emphasize is only Bid number One....
(4iii)-- Think chess pieces and strategy....
(4iv)--Bid Number only--only--imo--has one REAL purpose--to put (ITE_ "into play".... who are the real competitors to ...Razor....on a global basis...?
(5) And I bet the answer is different to the First Bidder perhaps....?
(6) However then the Merger question --as oppposed to Buyout--comes into play...
And that is another story--....for next time....!
Kindest Regards,
Robbo.
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