There is a lot of talk and confusion about the record date.I...

There is a lot of talk and confusion about the record date.

I actually rang the company this morning and they advised that the record date is yet to be announced.

I also looked back at the previous rights issue and noted that they announced the rights issue on 25/1/2011. There was then an announcement ("letter to shareholders") on 7/2/2011 advising that the record date is 15/2/2011.

So it would seem that those that were holding on the 11th of this month (prior to trading halt) are not automatically eligible for the rights. We have to keep holding up to the record date.

So this doesn't really explain why the big drop in price. Of course there will be dilution when we go XR but those that buy in now will be compensated by the value of the rights that they can sell/convert.

We should still be trading in the mid 1's IMO.

Oversold!