rights issue opportunity

It's interesting that the rights issue allows for over-subscriptions of up to 20m shares per shareholder at 1.8c.

That means that someone can get a sizeable stake in DIG at 1.8c (provided they at least own a small parcel before the ex-date of Mon/Tues).

For that, they get a company for $15.3m (using total 849m shares at 1.8c) that will be debt free (net cash position after rights issue of approx $2m) that is generating annual EBITDA of close to A$4m (recent company guidance) and growing. Not a bad deal I would have thought.