If a placement is required hopefully they will take a leaf out of obj's book.
i) Ultimate dilution relatively small
ii) Rights issue to current holders includes both discounted stock and free options.
iii) new shares sellable at a time coinciding with an expected positive outcome/announcement.
In PNOs case iii) might be the distribution agreement.
Anyway, I thnk you will find that most Obj holders are happy with the outcome of the placement/rights issue.
Still, anything can happen.
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