Sounds to me like they are softening us up for a rights issue. They must have run out of sophisticated investors to do a capital raising.
With the sp at 22c, this will have to be done at a fair discount to the current 22c. We have many large shareholders like ODY who simply don't have the funds to participate in a rights issue. Many (like me) would not want to put more money into Marion, so would sell a portion of their holdings to finance the purchase of more discounted shares through a rights issue.
IF this is the case, I can only see the sp weakening even further, unless accompanied by some good news releases. We can only hope....
MAE Price at posting:
22.5¢ Sentiment: None Disclosure: Held
