No, assuming ASX is T+2 purchasers up until Monday bought the rights with their shares.
I took the opportunity to accumulate 42000 shares at an average of 68c, I will be taking up the offer in full.
To me the capital raising has reduced risk and turned this company into not only an undervalued investment but also one with a relatively strong balance sheet. This is reflective of Stiassny's background working companies through voluntary administration etc.
The busines is worth much more than the present price either to an acquirer (who would be able to extract assets from the balance sheet if legal action is won) or stand-alone.
Only IAG and Suncorp can't bid - that leaves a lot of potential suitors floating around.
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