Falling s/p to 0.55c and a bit lower today does not augur well for the take up of the non-renouceable rights issue with the cut off date for the issue being very imminent (Tuesday 22 November 2011).
Can't really understand management's thinking on this one - can they really pull a rabbit out of the hat between now and next Tues. to give the s/p a boost and encourage the take up of the rights issue? I doubt it.
If current holders want additional ARU shares it is cheaper to buy them on market rather than via the rights issue.
A pretty disappointing exercise - and the s/p is looking increasingly soft. 70c by Xmas ??? I doubt it.
Falling s/p to 0.55c and a bit lower today does not augur well...
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