Yes, any time you purchase more shares at a cheaper price than the average purchase price of your current holding its called averaging down. It doesn't matter if you buy them on market, in an SPP, a Rights Issue, a DRP scheme, by exercising options, or buying privately off market from a scalper. It all has the same effect.
Please note that averaging down is only beneficial if the price eventually goes back up. Otherwise its known as throwing good money after bad. Many posters talk about averaging down because it has a feel good effect by making their existing % loss look smaller. Its rare to be able to average down when in profit. In reality the dollars already lost are the same but you now have more at stake if the down trend continues.
Good luck with it Bill, whatever you decided to do (noting that the right issue is now over so all comments are in past tense).
Hoping to see some good news here soon for the first time in since the mice were executed.
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