Celgene @ 18 months, page-51

I see you are indulging in your favourite pasttime of missing the point.

We're talking about whether MSB could do a rights issue from existing holders rather than activate the Kentgrove death spiral. Silviu has spent a grand total of $5500 on share purchases in the 12 years it has been listed, his holding comes from a) founding the company and b) vending the american company he founded into MSB in 2010. Since you ask, he sold 15% of his then holding in 2007, netting himself ~$13m in cash, and he's drawn over $10m in salary and bonuses over that period.

If the company was to attempt to raise another A$100m to keep going for another year from existing holders, then you need to look at the register. Silviu's share of the cap raise would be about $18m. Does he have the cash or the willingness to invest that much? Highly doubtful given his lack of buying over the years.

With the participation of other major holders also in doubt, it goes a long way to explaining why launching a pro rata cap raise from shareholders is unlikely to be a realistic option.