equity raising, page-73

Beardy, in the long term, yes TZ will do well. However, this thread is about the capital raising, and it stinks.

1)

Yesterday: 76,113,473 shares @ 56c = $ 42,623,545 market cap
Today: 112,273,225 shares @ 48c = $ 53,891,148 market cap

The company is today worth 20% more than yesterday, but the value of my TZ shareholding is down 15% in one day! Hello, is it only me that sees something very wrong there? Thankfully I can take up the rights to lessen this blow a little. However, it in no way compensates this. Nowhere near.

You'd have to have rocks in your head to be happy with this cap raising just because we raised a measily $11m, which let's face it, is not that much more than a rabble of shareholders raised. Patersons and TZ hardly pulled out all of the stops there!

2) The record date is after the placement date, so Patersons clients get to take up rights based on their placement. A double serving of generosity! Combined with the fact that Patersons gave the anaemic research report target of 84c really should tell even the most simple of shareholders as to what has gone on here if they were only to take their hands from their ears.


Unless TZ pulls out a ripper of an announcement after the AGM and before the record date, this share price is going to get smashed by profit takers. Don't for one minute think that 8.1m placement shares + 2.7m placement rights will not get sold off. This is the way they make their money. Rinse out one company, and then move onto the next.

Sad

Sad

Sad


I guess some people will never learn.