Obviously you are correct that there is holding risk with any...

Obviously you are correct that there is holding risk with any stock, and that in this case holding risk has played out for RRL with a lower SP. But if EPS stays the same or improves then the SP will recover. If EPS falls then dilution can be held to be responsible, but falling EPS does not yet seem to be an established fact. Have to wait and see. It is not so much the dilution that matters but rather the effect on EPS. This is what I would like to know, what will be the new EPS after the earnings from Tropicana are factored in?

Any holder who feels aggrieved by the capital raising has the opportunity at the moment to buy more shares at prices below the CR price of $2.70. So if they have some spare capital then they can more than compensate for the CR dilution. It would be surprising if the EPS falls so much that the SP will not recover to at least $2.70, because this would imply that some big players have got their sums hopelessly wrong. I assume that they would have not have invested if they did not think that SP of $2.70 is low because I assume that they are in it to make a profit.

No need to have a BOD if they aren't allowed to make decisions that they think are best. Just have shareholders make all the decisions. Well, I agree with you in that I don't agree with a lot of BOD decisions at a lot of companies, and I don't necessarily agree with what RRL has done, but this is how companies work. BOD has done what they have done and they will continue to make their own decisions, presumably aimed at the best outcomes. Always has been part of the risk of investing. Just have to make the best of it.


Disclosure: Previously I was not a holder but I have now become a holder at below $2.70.