The broker sitting on $3 million worth of the rights issue stock he can’t give away at your entry price. If you’re so confident why don’t you take it up as no one else wants it. I have never witnessed a more poorly supported rights issue by existing shareholders. Only 17% and even management didn’t even take up there full entitlement. That’s a poor indication if even they are not interested and there privy to a lot more information than retail shareholders
MMR Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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