I’m sure the timetable will be changed.I would have expected a...

I’m sure the timetable will be changed.

I would have expected a much more comprehensive announcement, seemed rushed, but no shares were traded so no harm I guess, expect for creating a huge vacuum for speculation (and some tough days for shareholders).

Surely it is not a coincidence that they released the Ann. Before AGM, so maybe that’s why it was rushed, it would have seemed a lot more dishonest if they had the AGM pretending nothing was going on. Regardless of any excuse it seems poorly handled.

-On paper, if debt was retired the market cap should be higher than before, so on paper a rights issue would be good for shareholders who can participate and it would all be smooth sailing next year with positive EBITDA.
-On paper, the 4 for 5 issue would bring the share price to ~8.5 cents -> assuming market cap of 53m (38mil + 15mil raised) and 620mil shares issued. It would actually be higher considering the reduction in the debt risk

So I can see why major holders wouldn’t care about having the offer so low, if they are truly confident they can pick up even more shares. Anyway, we’ll wait and see what else we can find out on Monday but at least no shares will be traded with incomplete information.