It has been trading ex for a while now so sell an take up issue rights is an arbitrage. Only holders can do it and the theoretical price from just prior is more like 1.5/1.6c so the current level of 1.3c implies some have been doing just that. The sellers on day 1 @ 1.1c were unfortunate as they took their loss and gave up their rights. In hindsight I suspect it would have been beneficial to have gone trading halt till shareholders got the chance to read the prospectus but not my area of expertise so I assume they followed the rules.
PYC Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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