I just reread my post and it sounds like I think that the rights issue is a good investment.
I would not invest any more money because you cannot trust him and this will be the second time that he has deceived his shareholders. If you had money and no ethics it would appeal because of what I said above but you don't know what his next move will be and the more control that he and Gandel get the more dangerous they will become. I do not think this rights issue will result in privatisation but the next few moves may.
Even if ASIC don't come through but I think they will, a rights issue like this one would make good reading in the business section of Melbourne newspapers with a few names noted. That is where Rogers greed has probably ruined his plans as this rights issue is so devastating that it is probably the talk of ASIC at the moment
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
