could it be a Rights Issue, Underwritten by Macquarie?
they are well and truly below the 20% t/o threshold.
they would have no problems underwriting a R/I as it would be an issue offered to all s/h on the same terms.
also, if they were happy to buy at 20c p/s, why not be happy to buy/underwrite at a much lesser figure?
that way Macq gets a bigger slice of CTP before they decide to do anything else?
This exact scenario happened/is happening at Flinders Mines Ltd (FMS)
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