yes it's well above current market value, but don't forget this...

yes it's well above current market value, but don't forget this stock was $1.50+ not too long ago. how does 15c compare with $1.50?

and the reason why market value is so low is because the market does not trust the company. if their liquidity situation was so dire, why didn't they raise equity when the sp was 60c, 50c, 40c, 30c etc???

and now shareholders will get smashed with massive dilution, which means lower eps and lower dividends moving forward.

and if you think the sp will rally to 15c because of the issue, then think again. take a look at where mgx is trading after its 60c rights issue.

i would rather forgo a dividend in the second half if it meant not having to raise equity.

i cannot see the point in raising equity just for the sake of improving liquidity, regardless of how big a premium it is to the current market price. if mccabe wants vpg shares, then he is more than welcome to increase his stake on market.