This is an offense to the all the shareholders who brought stock before the SARB approval.
Yes they took a risk and knew what the risk was buying before the SARB approval.
However, the placement has happened POST SARB approval when CDS risk profile has been GREATLY reduced BUT the MacBank has paid a price which does NOT reflect that CDS is now less risky investment!
To offer shares in CDS at pre SARB approval prices is quite dissapointing.
I for one do not believe in the difficulty in finding $12M. This is CHUMP CHANGE!!!!
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