Share price trading below the rights offer price will discourage short term traders. Those with a longer horizon – particularly those with a large stake already – may regard the rights as a way to protect their investment. Exercising the rights at 3c sends money to Neurotech. Buying on market sends nothing to Neurotech. So paying the 0.3c premium helps to improve the odds that Neurotech will succeed and provide a return on investment.
I've done it myself on occasion in the past, but not with this one.
Ann: Neurotech Rights Issue, page-20
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