Maybe, it’s just really disappointing that we are back at this point without any indication from the company that they are going to take a different approach to raising capital in the way they have for the last 2 years. Hopefully I’m wrong, but like many others, I question what value the board provides in doing anything different to raise, drill, raise, drill.
Best case scenario now is probably that AP finds a new cornerstone investor who is willing to buy in at close to the current SP. And there’s an accompanying rights issue at the same price, whatever it is, that allocates a fair tranche to retail holders.
Ideally the cornerstone gets a board seat and brings some deal-making impetus and corporate expertise.
Maybe, it’s just really disappointing that we are back at this...
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