takeover bid -by shareholders!, page-3

Valid Point Joecar,

If it was underwritten (which should be possible -considering the current oversubscription), it would effectively have the guarantee of being a institutional raising for the portion shares that retail investors did not subscribe to.

The potential underwriters may be further encouraged if they are confident of broad support of the shareholders.

Being renounceable, retail investors could sell their option in the event that they were not able to participate further. This would be a far more equitable outcome.

John S.