Ann: Tawana & Alliance to Merge and Capital Raising & SIA, page-291

CR: yes, ~ 10% discount as usual. the 37c is definitely just fictional.
What I suspect is that the new capital will also be used to control TAWs and AMALs share prices.
Like a share buyback program. MC is the new head of this construction and has many ways to control things.
So far, MC has done everything right. I do not think he makes a mistake with the merger.

It is completely unrational to sell now, on the contrary, it is time to accumulate. Still so cheap....