tcf - the reason for extending the closing date on the Rights Issue is simple imo....there was only very limited uptake (no surprise there). They are no doubt buying some time to make some further phone calls to see if they can motivate people to take this up. Highly unlikely in my view. Alternatively, they will come with a plan B which is probably an even heavier discounted placement to a "friendly". Either way, it is going to hurt existing share holders....a lot!
Ann: Issue Closing Date Extended, page-4
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