seems to me Phil and the board have been suckered by the SI's into thinking ordinary shareholders should also participate in the dilution/firesale. Perhaps it was out of sheer desperation but I hope to god the extra 6m Phil was hoping to raise is not crucial to the funding plans going forward.
Obviously the sp will be capped below 2.8c until the retail offer expires and thus provide no incentive for existing holders to take up the offer which would further dilute the SI's 400m share interest ... it's human nature Phil.
The good news for those still holding should be a decent rally going into the new year.
NDO Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
