I'm also in the red having taken the placement at 0.8c before...

I'm also in the red having taken the placement at 0.8c before they announced 1:22 or the public raising. I expected something like 1:15.

- if the travel business was so good why do the vendors want to cash out so much of their holding?
- forget the Wise Owl valuation. It was based on projected earnings for 2018, which are x 3 current earnings.
- agree that vendor shares need to be adjusted to reflect current shareholders being bent over
- the public raising will be used entirely to pay out vendors, and will cost current shareholders $1.5m in addition
to the $2m to be paid to vendors.

If a book was written on how to do a back door listing then RGX would be a case study in how not to do it. What a shambles.

Who in their right mind would vote in favour of this? Not in shareholders interests and a poor reflection on current management & their advisors (DJC).

Btw, I can't find the "independent" report saying the original deal was in shareholders interests. Can anyone give a link? That report would surely need to be re-issued given the new terms.