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It doesn't make sense to me. It looks like somebody wants to...

  1. 3,439 Posts.
    It doesn't make sense to me. It looks like somebody wants to take a position ahead of the shareholder meeting to vote on the rights issue. That should be a Special Resolution requiring 75% approval to pass.

    That may be fanciful but I can't see any normal reason for nidding the shares up. Maybe getting rid of Williams (and their dreadful appointed management) is a good sign but the shares must fall if the rights issue goes through. It's not as if the debt will be lifted - there will still be $80m debt to banks.

    Maybe it's the banks taking a position? Can't see the logic.
 
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