Interesting times ahead for sure. Hold on tight, the global picture over night has just god a lot more interesting - for the better. According to the pre-opening trade the buyers are back in droves - even one order for 5m at 11cents!
Panic selling is about to become panic buying. Shorters suffer!!!
With overseas markets up over 3%, there is a very strong chance that PLA will close at or above 12cents today and the rights issue is back on the cards.
If there was some one lining up for the stock then they too might be forced to bring forward their plans and get active in the market for stock and rights.
Everything is point towards a share price explosion. Should be a very interesting day.
[side point - do you really think PLA management could chance the terms of the rights price mid-way through? Surely those who had sold rights and/or shares prior to 24/11 would be up in arms? AND Patersons credibility would be poo if they pulled out the underwriting - do you know of any precedents of this, after all they are getting paid for service and would have known of the current market risk?]
Hang in there shareholders. Don't get caught selling at the rock bottom!
Cheers
Gus
PLA Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
