It is disappointing that the board in announcing the 'successful' completion of the entitlements offer didn't mention the fate of applications from existing shareholders who applied for additional shares not taken up under the retail offer, in that existing shareholders applying for additional shortfall shares received NONE and the retail shortfall went to the underwriter..........................how is that the interests of the owners of the business appear to be subordinated to the interests of the clients of the underwriter?
Here's hoping that the underwriter's clients show some aftermarket support for the stock today and in the following days.
BPS Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
