Righto, in principle this looks like a good announcement....

Righto, in principle this looks like a good announcement. Directors are willing to take on 50% + of this rights issues ('at present'). Will be interesting to see if there is a shortfall.

At this point I am still surprised there isn't a Chinese/Asian backer. Also, will this rights issue make this stock more liquid?

I imagine the SP will track south in the short term.