what the chairman and ceo dont say, page-15

I want to talk about the 15c. I have emailed ELD twice without reply.

The request was simply why 15c, not 25 or 30c ?

In all the doco and releases so far there has been no reason given for the pricing. If you have a low ELD shareholding it doesn't matter much as you can break even or have profit from the take up.
Larger shareholders have been shafted. Esp. an institutional holder if they did not top up. Why ?
It is just as easy to get $500M from less shares at a higher price. Dividend wise it doesn't make much difference as long as the P/E are similar.

The answer must lie in who where the main holders before and after the raising. Nothing to do with retail holders.

I think it is very arogant to ELD management not to explain the logic behind it.

If they can gill the lily on this, the past, then how straight will they be in the future ?

Low priced shares do suffer from big swings because they are attractive to day traders and intraday traders.
I personnaly would prefer a stock above the 20c mark.

Cheers