I find no issue with the fact that MNB has to do a CR now. I also understand why options have to be thrown in this time despite recent positive events. What I don't really understand is why it has to be sophs every time this company does a CR? How about a CR at 7c and no options for the retail SHs or a mix of sophs and retail? I think (can be wrong) that it will have a meaningful participation from the retail SHs given that many SHs weren't comfortable buying in the lows at 4-5c but would be open to buying them now at 7c in a CR after all these news (e.g. myself).
The option throwaway creates a precedent that will be hard to be reversed in the future i.e. if they do another one, options will always be expected as a default.
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