I let my rights slide this time. Already over weight - big time. A shame really, but with the sp the same as the offer I couldn't justify the investment at this stage.
So the offer has been a wealth destruction activity for me, since I have been recently at 1.6cents! If I had a smaller holding I would have been tempted to trade the situation, but I was also scared of being caught short with a surprise announcement - such is my medium term view of the stock.
Get feeling is the underwriters will get their fill and our major shareholder will become an even bigger holder - which could be seen as a good thing?
Anyhow, we should know our fate soon, and I would expect the overhang to be large therefore the sp should recover in time.
CNX Price at posting:
1.3¢ Sentiment: None Disclosure: Held
