Valuation and Targets, page-340

If you are right about the raising being covered 4x it only highlights what a poor capital management decision the board made.
1. PAR don't need the money until 2021
2. Markets have seen the light at the end of the COVID-19 tunnel
3. A much better outcome for retail investors would have been
a) get it from us
b) allow BP customers to come in to pick up any slack
c) set a date of Sept 30 for the raising on those terms

Email --
If you want retail opportunity at $1.30 let Rennie know how disappointed you are via the investor relations guy. Tell them if they can, pull it, get it from us with BP as a backstop.
[email protected]

If you let things happen to you they keep on happening.