Well by reading that announcement it is clear heads holders are...

Well by reading that announcement it is clear heads holders are in trouble too if not enough vote for this capital deal. Too bad for option holders though as from what I am gathering RM is suggesting this potential deal is a company making event by encouraging further funds investment you have to take a big risk to convert below the strike price. I have a gut feeling RM could be right but it will happen after option expiry which begs the question why could they not offer an extension or issuing free attaching options with this latest right issue? The market timing seems to be very bad here or to benefit their mates.