rights issue and capital raising, page-23

Redant has good reasoning though for his decision and it goes hand in hand with pro-rata moves for capital. Even if the share price is borderline or even marginally below the offer price consideration is put by holders into their majority holding. If you already hold interests in the company then your understanding of where the finance needs to go to increase value of the company & enable them to achieve their objectives comes into consideration. For many it requires little thought as to how relative a few percent around market price is - do you pay the company for the stock with the double barrel effect of putting the cash in place to achieve the objectives or do you simply buy it on market from another & then leave the sourcing of cash to others. Anyway people wish to play it but if you want to contribute to those objectives being achieved then it's a fairly simple decision to make.