Ann: BKI Announces Entitlement Offer and General Offer, page-8

The share price reaction is pretty savage and BKIs share price now is not much different to the capital raise ask price.

I think investors need to be cautious here as it's perhaps the right question to ask one self as an investor 'why should I pay any more than the NAV price when if just wait I can get them via a raising offer on discount'.

I'm an investor and I'm disappointed at this raise, I see it as a silly stunt, and it really perplexes me why they have done it.

I won't be able to attend one of their investor presentations, however it would be interesting to see comments from any one who does.

What further perplexes me tho is that management and the board etc have significant holdings ... This raising manovoeur would have inflicted more damage to themselves than to anyone else...

There could be a good rationale for the raise, such as they see good buying opportunities, don't want to sell stock and pay tax, or they want to dilute tax liability vs FUM, or some combinations of these or other reasons. Any insights appreciated.