One in twenty pro-rata was always small change and hardly worth the trouble of applying for (even in face of the dilution due to the institutional placement), so it was nice to be able to get substantially more than one's entitlement today at $0.79. I wonder how many other shareholders have (or will) also top up under the offer price, and subsequently not bother with the rights uptake. The Chairman's significant sub-underwriting position might mean him having to come up with a substantial amount of cash within a couple of weeks.
TFC Price at posting:
79.5¢ Sentiment: LT Buy Disclosure: Held
