Only solution to this mess is for a consolidation now. LJ want their to be a bid on INT shares which is fair enough. Im sure we all hate days of no trades. (0.0bid and 0.1ask)
Im sure their will be a get out for LJ. Surely their would have been terms about CR. Usually LJ object to CR whilst they are funding.
It's obvious why we want(aka needed) a CR now. INT have known that payment had stopped and choose to tell us now. They were probably techinically insolvent. Had market been informed earlier im sure CR would fail. Sp couldnt go any lower. But possible lengthy suspension whilst funding was sort.
Maybe INT have a case against LJ. Fair enough. But if things go pearshaped then anyone that participated in the rights issue certainly has recourse imo. It needed to be disclosed in the offer document.
Ann: La Jolla funding update , page-4
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