Well you can’t say that Management didn’t give shareholders an opportunity to maintain holding % through the Rights issue. Then some shareholders decide to tank the share price making the Rights issue impossible by the looks of it. I applaud the Management for taking the immediate action of halting trade and obviously coming up with something different. There is no point letting this Rights issue linger for a month and the typical nervous Nellies continuing to sell out as happens when fund raising is on. May as well give the shares to SI’s or instos who see the value and hold. That’s what I like about this company, doesn’t sit on its hands, decisive and gets things done!!
AU8 Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held