What am I missing here re: Perrenial. They are entitled to the 1:1 entitlement, so, how are they going to be losing out here, other than having to stump up cash to prevent major dilution?
If they pay up, they will still have a monster holding and can still likely push the board out...even more likely than before actually.
What am I missing?
Ann: Placement and Accelerated Non-Renounceable Issue, page-39
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