A question (this is NOT a whinge) for any brokers/knowledgable people out there.
How come ASX listed Co. entitlements are (almost) always non-renounceable. It seems to me that shareholders who can't afford to take up their entitlements should still have the ability to sell their entitlements (theoretically worth .6c as we speak) on market. One of the many things that have always puzzled me.
I suppose that people could sell the number of shares they are entitled to now and then get them back at 8c (capital gains clock is an issue here I suppose, but at 1:17 its relatively minor) and if anyone is not going to take up their entitlements then surely this is the sensible thing to do?
1 for 17 offer, page-45
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