i feel its probably a prudent safety measure. many companies are now tapping the market for funds and having to do so at ridiculous discounts to share price. wether they have another plan for the cash or wether its just bankable savings for the future i am unsure but either way i'd rather get it now than see the SP resume in an upward trend and then have to bring it back down with a future capital raising.
sure we all hate them and i too thought we'd seen the last capital raising for axm in its current form but times are tough, i think its fair to say we've never experienced anything like this before so i have enough faith in management that they are diluting the company buit only because they feel its in the best long term interests of shareholders. remember they too hold a fair wack of these and their stakes are being diluted aswell.
cheers Davo
AXM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
