entitlements issue, page-7

With two weeks to go, and MMN now back under the 20c level, the Rights issue looks to be on shaky ground.

Because of the free 1:2 options, MMN only needs to trade at (20 - MMNO/2 ) for investors to be in profit immediately. But with MMN at 18c, and MMNO around 4c, the equation could fall either way. And liquidity of the options is another factor.

I'm still on the fence, but I'm leaning towards forfeiting the issue.