disappointing spp on the way?

Just something I picked up in the new RBS report on Texon:

RBS is forecasting TXN will have 216m shares post the SPP, up from 199m now. As they handled the capital raising you could assume they know what they're talking about here.

Unfortunately if you assume TXN has say 2,000 to 3,000 holders that works out at an average of only $3,500 to $5,200 worth of shares each. So get ready for scale back!!!

I like TXN's management operationally but they really like screwing over patient and long-suffering smaller shareholders to reward their mates at the big end of town when they raise capital.

Warw