GS, I don't think that existing shareholders can really now complain about the placement being too cheap. The SP dropped to a level where those who would have felt 'ripped off' at not being able to buy more shares at a discounted rate ($2.50) had ample opportunity to buy cheaper than the placement price were they were fair dinkum. The banking sector in the US is going through further turmoil so getting finance may now not be so easy.
The placement was fine at $2.50, just the lack of detail about its use was what irked me.
BRM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
