its grim, they need cash and now the share price may be locked...

its grim, they need cash and now the share price may be locked in one of those viscious spirals down where the market knows they needs cash and pushes the price lower and lower forcing the issue price down with it. like NAV , though not quite as bad.

Winners here maybe those who get to take up the offered shares at the huge discount and sell the subsequent tradeable rebound rally, losers everyone else, which is the only reason I have retained a small holding.