Travel restriction, page-164

There is some incentive to get DSV back up and running now there is a renewed tax on its profits from the Vendor. However, with the company needing more capital in the short term, why sell Aristo at a firesale price and roll that into the current capital structure? Why do anything that benefits the current capital structure?

Wouldn't it be better to fire sale more shares so the major shareholders end up with a bigger slice of DNA when casino asset prices normalise? This is the issue Darre11 is getting at, DNA simply announces another underwritten capital raising for debt and working captial later this year, then the major shareholders presumably get an even bigger slice of DNA and the upside.

In this sense, it is in the interests of the major shareholders to have continued poor results in the short term, which will happen due to Covid but otherwise no incentive, which gives reason for another firesale capital raising to the major shareholders. The upside could end up being much less for public shareholders if and when the company needs anoth 10m or 15m in cash.