I agree. To announce such a big rights issue 2 trading days after the SP hits 5 cents for 5 cents was bold and certainly cut the legs out from under the momentum.
I would have thought it better to see where the momentum would carry it, wait for consolidation,, then do the RI, possibly at less dilutive ratio.
So IMO they have moved early to adapt to a news flow that would ensure the success of the RI, or they have been ill advised.
IMHO
DYOR
Oscar
running out of ammo?, page-62
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