I generally don't mind a CR, or the timing of this one, or even the plunge which I think will be relatively short lived.
What does really irk me with this one however, are two things ....
1. It's only a tiny amount & will float them for another few months only, then what ? Back to the bucket for another snout-full of further dilution ?
2. Only a few privileged bods get a 15% discounted price which they will probably sell down on market over the next few weeks/months anyway to take a quick buck & at the dilution 'expense of all the other loyal shareholders.
They should have gone in for a bigger lick & included all shareholders ... that way they get cash to carry them for a decent time-frame & all shareholders get a chance at sharing the potential spoils and/or avoiding dilution.
PNN Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
