This is an honest question, not intended to cast any dispersions...

This is an honest question, not intended to cast any dispersions over the company's prospects.

CGT's shares are trading at 9.6 cents as I write this.

The entitlement offer is for 1 share for every share held at the offer price of 10 cents.

If I was intending to take up the entitlement offer to avoid further dilution of my holding, why not just buy on market today an equivalent number of shares to what I already hold at a price which is less than the retail offer?

Presumably it wouldn't be possible for all entitlement holders to do this (given if they did the price would likely increase above where it is now) but where things are at today, I can't see any flaw in my thinking? I'd be grateful if someone can point one out.