Rights Issue for Existing Shareholders, page-17

I agree, good summation. Unless you hold a bucketload of shares and can arbitrage between the rights and the shares, and if you have the funds to take up your entitlement at $2.20, just wait for the notification from the company and pay the dough.

If you do nothing, no harm done. You will receive an amount back (see CGC announcements). In my case with 10000 shares, I will pay 2500 X $2.20 = $5500 and end up with 12500 shares.