Ann: AIA strengthens its balance sheet with an equity raise, page-90

Picture yourself as a director of a publicly-listed company today, which is carrying a bit of debt.

The world is an extremely uncertain place, and is likely to be that way for many months to come.
Accordingly, the cash flow budgets that form part of the board papers you'd be receiving would be almost meaningless.

And capital markets are coming under pressure.

The world is changed.

Given the circumstances, boards today have full carte blanche to look to equity capital providers for support.

In fact, in many ways, directors are deficient in their fiduciary duty if they, in fact, don't take active steps in the face of the pending economic crisis to ensure that the businesses over which they preside, are appropriately and adequately funded.

I mean, where is the upside in not doing so (i.e., raising capital)?