anyone going to the agm, page-11

Guys (and girls) ... no announcement is needed to boost the price. Why would they want to do this?

The rights issue is underwritten! Vic wants $1m worth of shares (he is only entitled to $300k worth under the actual rights issue due to his existing holdings).

They WANT the stock. They don't want others to buy too much.

Why would they want all shareholders to take it up? If shareholders take up too much, there won't be enough shortfall left for Vic and the underwriter.

You would think that the committed funds through Alto are friendly to Vic, otherwise why would he have agreed to go with them.

If shareholders don't take up their rights the control of this company could easily change hands with no control premium being paid.

Perhaps that is also why there was the comment about the withdrawal of the motion to issue the shares to Descrete. It didn't say the shares wouldn't be issued to Descrete, only that shareholder approval would not be obtained. The issue to Descrete can still occur under the 15% limit! I'm sure that Descrete would still require the issue of shares for the licensing of the technology.

One thing though.. if the comment about the rejection of the director is correct (no announcement from MSC yet) MSC will currently only have 2 directors and they need 3. They will be working out which friendly to appoint to the board right now.

Cheers
Marv

DISC: NO holding, but I follow with interest!