The banks have had multiple chances to pull the plug on DML in the last few months and they haven't.
One could read into the current share price and whether the market is pricing in a chance of receivership.
My thinking is that this is not the case. I suspect the market is pricing in a placement below 20 cents to a strategic investor for a significant stake in the company.
Of course the Chinese won't like this so they might come back with a bid sub 30 cents (After experiencing the chinese takeover tactics with SDL I'm not confident a 35-40 cent bid is forthcoming).
A placement to a strategic investor might not give investors the immediate cash flow that some may hope for but we would at least retain a stake in the company and hopefully benefit from future growth (just as long as they can sort out their shit)
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The banks have had multiple chances to pull the plug on DML in...
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