Im not taking the piss at all. Im saying that ordinary small retail investors like myself wont take up the rights issue because we can buy the shares on the market at a cheaper price. The disclosure clearly states that the rights issue is a pro-rata non renounceable entitlement which means each shareholder can apply for a maximum number of shares based on their current proportional holding of the company. So if I choose not to take up the rights issue and Im sure I wont be alone then it cant possibly be fully subscribed. Am I missing something?
ROL Price at posting:
30.0¢ Sentiment: None Disclosure: Held