Hypothetically, If he paid 2.7 which was our average 4 weeks ago, he got 50,000 at $1,350
- Therefore he received 30,000 at 1c entitlement a cost him $300
- He sold 30,000 for 2.1c and received $630
- $330 profit
Now he owns 50,000 at current 1.6c average - valued at $800 of which he paid $1,350.
= paper loss of $550
HOWEVER, he made a $300 (profit) on the rights issue.
= paper loss of $250
Nuts, I haven't had enough Red wine tonight to understand that your logic is flawed....
And many paid MORE than 2.7 c !
Ann: Change of Director's Interest Notice-PLP.AX, page-96
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