rights issue are failing right across the market, did they pull their heads out of the sand and check whether the market is interested in rights issues??
Zambezi Resources Limited’s recent Non-Renounceable Rights Issue, had a shortfall from the Entitlement Offer of 833,714,358 fully paid ordinary shares out of a total of 1,118,708,875 shares offered.
Pharmanet today announced that only 13% of there issue was taken up
GBZ, same story
NUP last rights issue, same story
I could go on and on with recent issues failing.
This will fail, mark my words, they will be extremely lucky to crack 40%, if they cant get the share price any higher than 1.6c even after the JORC then they have to realise that they are not doing a good enough job, why then would we want to hand over more money for more of the same?
What are these guys on????
Ann: Updated Rights Issue Prospectus , page-2
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