rights issue/allotment of shares & options , page-13

re: rights issue - mcneil's selling down Err - I think you may have missed the point. They sold the shares at market price - 15.5 - 16 cents. Then they bought the rights issue shares at 14 cents. Presumably they'd already bought their first lot at a much cheaper price.

When the rights issue shares go on market on Tuesday, they will probably have a diluting effect on MMN share price for a while, then the price will come back up, and the McNeils will be in the money again. As will the rest of us who have subscribed...