Ann: Non-renounceable Rights Issue Offer Prospectus, page-117

it was just statistics. Yeah, i wonder why all the lines were lined up soaking above.
Its a natural stair case event. When there is always that supply that has some profit in it.

There was a high probable event that 1c would be hit.
A modest chance that a break even trade could occur at 0.8-0.9c in lou of sell option as well at 0.1/0.2c to break even. But why would you bother participating if you were that unsure of sending money in to get out again.

So possible,. Maybe the 0.9-1.0 would get a look.
Given the substantial discount from 3c, how many holders will be taking it up ? Who would average their position ?
One thing for sure, it needs to close out, before it can rationalize its value somewhere to the previous MC when was trading at 3-4c.
You wonder, if this is a large discount to dis enfranchise the retail, and to be soaked by larger players.

So was the excessive discount, to encourage retail ? or discourage them ? Curious.