TC unfortunately your analysis is flawed, but we may have to agree to disagree as I can sense you have made your mind up on this. Of course we would all rather the company had raised cash at a higher share price, but in the circumstances there would appear to be little option.
As I have pointed out to you, the value of the rights plus your shares prior to announcement is actually half a cent per share more now than prior to the announcement. For you to be ranting about the fall in the shareprice today is misguided at best and doesnt really add much to the discussion.
I have not ignored cash in my calculation, I have added the capital raised to the market cap. What I have ignored is the additional value to the company of the certainty of having cash in the bank due to having raised capital, not the cash itself.
I can only suggest that if you are so aggrieved you sell.
equity raising, page-88
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