interesting that only 25% take up by existing shareholders. as I...

interesting that only 25% take up by existing shareholders. as I reflect on this outcome, part of me thinks i shouldn't be so surprised as their existing shareholdings rank behind the new securities issued. if the company moves to profitability and is supported by the wider market (particularly sophisticated buyers) then existing shareholding are at risk of being diluted. I think this new round of capital raising was focused on new shareholders at the expense of those of us dumb enough or neglectful enough not to have bailed out earlier. I won't forget the board or senior management, and will be extremely cautious of investing in any future investments they are involved in. good luck to all those shareholders who elect to stay / buy the new issues.