oversold, page-16

Bernard

I am surprised they didn't lock in some big shareholders to take up their rights before announcing the cap raise, if they were not going to, or able to, get an underwriter.

Maybe this would have required a lower price for the rights issue, but at least there would have been a guarantee of raising some cash.

Now sadly all they have done is weakened their position for raising capital. I wonder if they got any advice before making this move?

I was thinking that I might buy on the initial cap raise dip before I looked into the details, as that is part of what I do for a living.