Yes Crookers it has become far too easy for companies to bypass their current shareholders with these placement rules.It does allow them to raise funds very quickly with little paperwork needed but unfortunately the rights of current shareholders are completely ignored-if PSA really needs this money for the reasons stated then they should have known months ago that they had to raise this money. It would appear that there is not even going to be an SPP for shareholders at the placement price which is something most companies put in place to give their shareholders a chance to participate but I suppose that developments are moving too fast with the result of the first critical Vermilion well due within ten days.
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
