Does anyone really think that doing a RI at 0.5c when the ords were trading at 0.6c was ever going to get a high acceptance rate ? I would be surprised if there will be a 10% takeup.
When Triple C underwrote the last issue at 1.3c there was a higher than 50% shortfall.
This was an ingenious move by the Board. They have managed to flush out most of the last Triple C shortfall placed. At the same time flushing out some of the weaker holders.
Where do you think that the shortfall will end up ? The Board did not decide on a rights issue to raise $500k.
This is the last place that I would be selling my shares. This is the time to be buying to be getting a larger RIGHTS entitlement. It will be interesting to see the TIMETABLE.
Different Spin
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