Ann: West Wits Completes Placement, page-9

IMO the fault lies in the system and the stupid amount of red tape, time and cost to do a rights issue. Chief villains are the ASX and the broking community.
I’m not necessarily blaming WITS, they are better off for having done this, but it has happened to me in at least half a dozen stocks in the past 6 weeks. At least this was done at a reasonable discount, some are just atrocious.
The current system simply favours the broker who takes on no risk, gets paid a ridiculously high fee for doing basically FA.
I have seen some where they don’t really even need the money and just giving stock to clients because, I suspect, they know good news is coming and it stinks.
i don’t think that is the case here, for me, this gives the company the wherewithal to fight and objectors now know this and will be more likely to back off...and we might just get a result to enable the offload of mt cecelia
Grumble all you like and I feel your pain but the retail punters are at the bottom rung and few in power care