I think the lack of takeup by directors under what I will call the pure rights element has more to do with greed. I believe as sub-underwriters they would participate in the underwriting fee which from memory was 6%! So in a sense they get an extra discount to us "retail" investors. I am not generally too critical of management but if this is a case of "snouts in the trough" that the rest of us cannot participate in, then it is reprehensible in my opinion.
regards
DF
shortfall on rights issue, page-13
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Last
24.0¢ |
Change
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Mkt cap ! $70.00M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 24.5¢ | 22.5¢ | $15.37K | 65.99K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 36776 | 24.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 3501 | 2 |
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| NXS (ASX) Chart |