The consolidation is fine. The idea of a name change is fine but "Planet"? Hardly inspiring.
Not too fussed about yet another rights issue. We are being asked to pour more dosh into this company and so far we have seen nothing in return. So why should we stump up with more? (Apart from maintaining our proportionate level of equity). If we put up more money what do we get?
There are other companies out there who are looking for capital from s/holders and they look to hold a damn sight more promise than QOL. Cash is not abundant so if MLM want more from me they are going to need a good business case. And the answer of 'we're putting extra into the bucket and think that you should too' doesn't cut the mustard.
Then again minority s/holders may not figure at all in MLM's thinking. Perhaps the rights issue is a sham in that disgruntled s/holders not taking up their rights is a way for MLM to increase their proportionate holding.
QOL Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
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