As I've seen elsewhere[with HRZ in my case] our EDE share price is being manipulated down. In this case obviously to stymie the take-up of the offer,leaving the company short of the required funds.The operators abuse the shorting system by getting companies under their control to cross buy and sell to each other in order to walk the share price to a point below the raising price thus making it unattractive to take up.
With ASIC totally ignoring this end of the market,they have virtually carte blanche.It'll be up to the true believers, in my view, to ignore their action and take up the offer anyway.
I'm surprised the Solomons didn't expect this to happen.But on the other hand what could they do? The only remedy that I can see is for a cornerstone investor to come in and strengthen the registry.
db
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