Yeah, why do you think this cap raising was done this way...
I'll tell you what I think: the only way to get such amounts of cheap shares is to make the offer unattractive to most shareholders, so that those who apply for the unwanted shares will be able to get a huge chunk for next to zilch. This is Rule No.2 from the old school rule book, it ranks just below the FAS sale of its GWR shareholding for $1.35m.
On the upside, things are starting to roll, no doubt IMO. Watch for some takeover activity involving these companies in the next 3 months.
cap raising, page-2
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Mkt cap ! $27.94M | |||
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