This looks like a pretty big deal and no one is talking about it:
1. Change to the companies constitution, along with a big provision for off market partial buyout2. Rights issue of 10% of the shares
Given that the business is nearly profitable this seems a bit crazy to do a rights issue just before a rerating of the stock?
It would be good if the experts on m&a could enlighten us on what the plan is. Doing a rights issue and then off market partial purchase. Where will this leave minority shareholders?
Changing the constitution requires a 75% vote to pass so this is not an immaterial matter. Looking forward to hearing from the community.
This looks like a pretty big deal and no one is talking about...
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