I reckon a rights issue at $1.15 would be selling the opportunity short. In this instance I am more on the side of the company rather than the shareholders. I would prefer them to choose the time when they can get at least $1.50. Even though I will receive fewer shares for my outlay, there will be fewer shares on issue which in the long term means larger dividends per share & a higher share price.
Ann: Trading Halt, page-96
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