@vincenski - you have to buy 6 rights for every additional share you want to buy. Only if the rights were not taken up might there be a placement @ 45 cts.
in my view the market does not understand the value of the 90 cts options. At the moment the rights are too cheap and as the stock goes higher I guess that relative cheapness only increases.
We would need a lot of bad news for this rights issue to fail and hence anyone having an opportunity to buy stock @ 45 cts without buying rights - IMO.
Ann: RENOUNCEABLE RIGHTS ISSUE TO RAISE UP TO $8.15 MILLION, page-57
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