Wachito I don't disagree and would happily invest at a much higher price to avoid dilution.
Let's say a 1:1 issue at 50c - it would raise the funds in full if fully subscribed. I would happily oversubscribe if given the option.
I can only presume the issue is no bank is willing to underwrite the rights issue at a reasonable level, and the Company is not willing to go for a non underwritten issue.
suspension, page-70
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