If you are right zereal, which you may well be, it is another poor decision. The possibility of a SPP will continue to depress the share price, so that existing shareholders will be further diluted by a large percentage if any meaningful sum is expected to be raised. Future rises in share price back to a reasonable level will also be adversely affected if the number of issued shares is increased. Ruling out a SPP is a sure fire way to increase the current S.P.
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