MM, precisely.Problem is the lower and lower placement price has always been sold to the shareholders as a better and better deal for existing holders rather than coming clean and says that this is the best they could have done or is allowed to do as alleged by some.
Reality check here, Patt's clients who has the placement at 35cts must be seething by now as they have no clear exit point.we know there are at least 10millions share with Patt's clients who mostly just want a quick profitable trade as with all placements. Spare me the argument that the placement have gone into strong hands. I do not buy it having had many placement offered to me in recent months.
Then there will be expected significant short fall from the rights issues taken up again by the underwriter. We have at least 20million hitting the market leading into Xmas 2010. Well to me this is a Xmas present I would rather not have!
Is this the best that can be done or the most convenient way it could be done.
The one eyed supporter would see only good from this but I would respectfully disagreed while licking my wounds from TZ losses furiously.
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