ros777agreed. It has been a little confusing. Starting with the...

ros777

agreed. It has been a little confusing.

Starting with the half yearly accounts where the capital raising was mentioned, then officially anounced the next night.

The letter to option holders confused things a bit when it detailed the date the options had to be exercised as the 9th March if they were to qualify for the rights issue.

The last 8 announcmemnts (mostly relating to this rights issue) have been after market.

Makes me a bit suspicious of the underwriter.

They have hardly tried to 'sell' this rights issue yet have fully underwritten it at an attractive effective price of 10.66cents

Rights Issues are usually done with glossy presentations and foecasts etc to encourage punters to add to thier holding.

All we got was a couple of paragraphs on the project update.

Could it be they want it all?