It appears our Chinese Director and former?? number one shareholder refrained from taking up his rights allocation. Chairman Anthony Barton appeared not to take up about 22 million rights shares but with his overall commitment that is reasonable. Some regulatory restriction may have applied to his position.
But with a Director appearing to stand back from contributing to a rights issue that is a bit of a worry.
SPX Price at posting:
0.5¢ Sentiment: None Disclosure: Held