This is yet another disappointment. Esp. when I was told by management that everything was proceeding to plan and that Patersons would be required to make an announcement regarding their continued support prior to the close to the rights issue.
One can only hope that they are planning to extend the deadline/life of the rights (if possible) and drop the asking price to sub 10 cents OR bring in a cornerstone investor. Perhaps AMPLATS?
Otherwise heads should start rolling...
Gus
PLA Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
