Very well written post Maxter.I have not had a chance to check your figures but yes trading patterns will change.The price of 8.6 cents is a further indication that the rights will not get taken up fully.The shares are being sold by current shareholders to fund the rights issue and get the option and this is only works if the the share price is above the 9 cent mark less the dilution effect from the options which I have not worked out.For example I have sold some of my shares at 9.5 and 9.2 and therefore I can make a profit on the transaction and accumulate more options and this only works if you know there will be an undersubscription...which will happen.
If the market caught a wiff of a positive announcement next week it would trade higher allowing maybe of the rights to be taken up but that does not appear to be happing looking at trading
PTX Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
