The problem with a pro-rata CR is that unless TAS had a prior CR, its hard to see how it could work. On top of that we have a US iInvestor Presentation and a US Corporate advisor, which looks to me to be teed up for a CR in the US.
Its hard to escape the conclusion that they are waiting for an opportune moment to launch a CR to US corporate and sophisticated investors through the corporate advisor. That would probably exclude existing shareholders, and relieve TAS of the need to participate.
EDE Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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