Normally i would say that the sp would drop to the issue price without any hesitation. In our case im not so sure. Somebody with abit more experience in rights issues might want to comment on this but i would hope whoever is in charge of building the book at pattersons would not only be building a book for people to underwrite the issue but also convincing people to buy in so they can participate at this price. Now if that happens and holders stay strong we actually might end up in the green.
Just a thought and i would welcome other posters views.
p.s maaze your right buy / sell is weird even our 2 mill at 3 cents has dissappeared after weeks
SBN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held