This is a renewal of an existing program - BAU. This is not announcement-worthy, let alone market sensitive! What the hell are their IR and senior managers thinking!? As a holder I really wish MDR wasn't looking so desperate for cash through the entitlement offer, announcements like this put me on edge.
I'm a holder and believe in the LT value of the company, but these announcements are more concerning than encouraging - they are VERY insecure about shares being offered at 38c - do they see this as being feasible in the future?
Seriously considering selling.
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