soon be time to decide to take up the rights , and participate in the extras book.... Currently I expect to be participating as I actually like the structure of the underwriting ( have the large holders underwriting is so much better than having stock left with brokers - if that had been the case I think we would have been trading lower and I wouldn't touch it)
Interested to know what other holders are thinking , if the take up is not strong and the extras allocation is filled I doubt we have too much more downside as the big players will have even stronger holdings. My one concern is they still have not raised enough to completely remove bank covenant issues . For full disclosure I offloaded most of my current holdings at an average of around 22c so am looking to reinitiate the position at 18.5c
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