still on the sidelines watching this with great interest.
So, why the sell off? where is it going?
I wander how iron clad the underwritting of the RI is?
Would they commit to 50m at 2.50, when the sp has been knocked down this far?
Could it be, that there would be some covenant clauses, that allow them to reprice it, if the sp was to fall below a certain level?
Would they manipulate it lower to acheive this?
purpose to pay as little for as large a peice of pie as they can, while having scared the retailers to the moon.
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Ann: Letter to Shareholders Re Rights Issue , page-33
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