Given the rights issue is priced at a premium and post the annouement the market still did not come close to the rights issue price, its hard to see investors taking up their rights.
Under such a scenario some unknown private investor, Argosoy Capital is now going to own up to 27% of UBN at a fraction of its true value....
Did the Board properly value the company?
Did the Board consider a sale of 100% of the company to maximise value for existing sharholders?
UBN Price at posting:
17.5¢ Sentiment: Sell Disclosure: Held
