Ann: Acquisition and Capital Raising Presentation, page-12

Yes, a bit more considered response & research required.

Acquisitions always a glass half full, glass half empty scenario, however on balance this is glass half full.

If you don’t like them taking this type of M&A you’re probably in the wrong stock or in it for the wrong reasons.

This isn’t a guaranteed 1 plus 1 equalling >2 but we won’t have to wait long to see if this marriage is fruitful, and on balance risk to the upside IMHO as to where it can go and what other opportunities for MBH could be opened up and/or on the horizon.

Also can't be accused of CR at low in the market & not letting existing holder participate in kind. Take up at this price will show the colour of existing holders, because not cheap in current market, but in hindsight could be very so!.