ricardo, without meaning to sound undemocratic, I presume that these raisings receive the support of big shareholders before they are done, so it will go through anyway. I think I've suggested before that shareholders will probably get the same deal, as it is usually the case on the ASX- insto's first as it's quick money, then the share price goes up a bit, insto's get out, more good news comes, the SP goes up again, and then we get our discount deal.
I dislike raisings at all, and never take them up. At most times, one can always buy 15k of shares at a price cheaper than or equal to raisings- this relates not specifically to PYC, but on most shares. I don't know why you'd want a free option ands a share price lower than we have now. Money is made on capital gain, not on a free option.
PYC Price at posting:
6.3¢ Sentiment: None Disclosure: Held
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