A rights issue does not dilute if all shareholders take up their entitlement. My guess is that ZYL have lost the confidence of most shareholders and it would be an unsuccessful form of raising. So the best ZYL could hope for is for some bunny "sophisticated investors" along with some smaller insto's to raise and hence dilute everyone.
Grim days for ZYL - needs a complete haul over of the Board in my opinion
kangwane, page-15
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