IMO, as stated previously, it would not be a rights issue for the cash per se, but rather for Aahana to acquire more shares and a percentage of the company without mandatory takeover bid. If the rights issue is underwritten by Aahana or associated entity, then this theory will be proved correct and everyone should then eliminate any doubt as to where this is heading. After which Aahana may still offer a low ball takeover bid (let's say something in the order of 15c/share) which will be rejected I'd imagine. However this will cause the SP to run to offer price and instill confidence in CKA and the SP to the market. Then again, as logical as it may sound as a likely sequence of events, this is all just speculation and none of it may happen. I'm sure we will find out soon enough.
CKA Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
