Surely they'll offer an unmarketable parcel sale facility afterwards to get all those shafted holders off the register, although existing equity will amount to only 12.5% of the company after the issue, so they won't wield any power.
I reckon current holders should vote this rort down and force the company to fold.
Top 20 probably have the numbers I guess, but I wonder if they're prepared to pay these clowns to do it all again.
Ann: Notice of General Meeting/Proxy Form, page-5
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