rights issue, page-9

No 123, It the 800m shares is probably dead.

Most likely it will be as M12 says, but underwritten by one of the usual suspects "Global-esk". Then when most people don't take up the Rights issue, because it ain't very attractive, the underwrtter will simply take most of it on board, with a similtanious dump on-market.

So in effect it will be a placement with a twist.