exactly these are also my thoughts already for a while. BOD for sure knew in advance, that SS can't participate. also, there are overseas SH, who can't participate- so as you said, a 30-40% (20%SS + SH abroad) Shortfall is inevitable! but they will have made a plan for this already BEFORE they issued the rights offer. interesting in the offer is, that BoD says, it might also offer the shortfall to a 3rd party or any other party, they want. so there is definitely someone in position already to take up these shares.
otherwise they would knowingly steer into a 40% shortfall, but from what they showed how reasonable they act, this would not fit to our mgt.
AJM Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
