The good news had to come but this announcement has me a bit confused. Does the following mean the rights issue is off or that they are thinking of canceling it or ?
Given this achievement the directors believe that notwithstanding credit averse market conditions it is now prudent for MSC to consider carrying some future debenture debt versus fully redeeming as at 30 September 2008 as provided for in the Rights Issue Offer, and thus over dilution of existing shareholders may now be avoided.
Apart from this "minor" detail, pop the champers boys and girls, Vic says it is party time!
MSC Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
