Thadius,
I think there is a big difference between a placement which gives SIs free money at the expense of current holders and a non-dilutive rights issue. The latter is definitely preferable but doesn't seem to be used enough.
Still, IMHO, debt finance is the best for holders interests, even if it means more paper work and a bit of effort keeping the bank happy. You can pay someone to handle that.
outstanding announcement, page-63
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