Management are capable of making phone calls - if they drop the high card and favour the funder, they’ll have cash coming out of their ears. It may hurt SHs a little but not as much as a failed project.
That’s just my view from the outside with previous experience.
The question Id ask is: If they were happy or confident in convincing thousands of shareholders to fund this project, why not a singular party or multiple SIs? The power of odds in masses. It just came across as lazy to me and the throw away line ‘just ask the shareholders’. It was a very ‘Black mailing’ document; the rights issue.
Like I said before, the shortfall may be a blessing. An indicator to management that’s SHs have had enough and aren’t just puppets themselves.
GL
PRL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
