I am disapointed at the rights issue, and probably wont contribute. Obviously a big dilution if it proceeds.
Two things stand out in the document to me.
1. If people don't take up their entitlement, MSC can issue any shortfall to Qualifying Shareholders. See the section ISSUE OF SHORTFALL.
2. Also see section PLACEMENT TO SOPHISTICATED INVESTORS.
As per previous posts, there appears to be more info that will surface over time. MSC have been able to get previous backing from plenty of investors. Even though the sp has dropped, it is not really on much volume.
Descrete were issued shares at 2.33 cents.
The timing of any potential announcements will be interesting.
MSC Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
