It had to come to this and this should be a warning for those company directors and underwriters who are prepared to screw small and long-suffering shareholders by offering equity at such a large discount and with a forward record date that allows new investors in on the deal. A 15% discount rate would have been more reasonable and a restriction to existing shareholders. Give us a fair go! Now time to divest (farmout) some equity in the project portfolio in exchange for cash and to reduce pro-rata operating costs.
AED Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held