Bullrush, please don't try and convince me that you are correct....

Bullrush, please don't try and convince me that you are correct. You may well be correct but bashing it out on the keyboard isn't going to influence my investment decisions. I have it in writing that Andy is participating. The rest have not confirmed that they are so I will assume they are not. And it is from that ground that I make my decision. I do agree that it's not great that the directors at this stage are not taking up their rights, but that's their choice.
As for the insto's and sophs, maybe they were not offered, maybe there are a bunch that already hold and can therefore get 1:3 more.
If new insto's and sophs were offered and declined then that isn't good, but we don't know that, you're guessing at that.