Remember what MAY did during the last capital raising .
Maybe doing the same thing this time too .
It probably would not go down well with their SH's if they invest a lot of money into the capital raise but making a small profit and ending up with about the same number of shares and some new options would match their modus operandi from the last raise .
To keep the pressure on the CR and the MEL BOD would be just another bonus to them .
At least the terms of the raising prevents them from taking up anymore shares in the shortfall if they take up their full entitlement .
The low liquidity at the moment prevents them from doing what I am sure they would like to do .
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