Ann: Renounceable Rights Issue Completed-STA.AX, page-3

It does and I'm annoyed about it. Insiders have clearly had the jump and been buying on market what they knew they were not going to get in the rights issue. Meanwhile small holders who subscribed for extra have cash tied up waiting for a refund. It's wrong and yet another example of how the little guy gets screwed on the ASX.

So good for tenbo, good for the company to have the cash, bad for the small shareholder being diluted against their will.

We'll have to hope for a stag profit sell off to send it back down to get a fair chance at topping up cheaply.