Ann: WorleyParsons Retail Entitlement Offer Update, page-10

I don't know whether I am being gamed or in which direction.

If I cannot guess the direction, that probably means that I am being gamed by somebody.

I have an entitlement to $92k worth of WOR at $15.56.

If WOR cannot hold convincingly above that price today, why should I take it up given that after 11.00 am tomorrow, the underwriters are going to be holding a shedload of stock from the retail shortfall?

The market got excited yesterday, ostensibly because DAR decided to maintain their stake in WOR by taking up all their entitlement. However, if DAR are so smart, how come they didn't buy WOR back when WOR was trading under $10.

Why hasn't DAR been buying on the market while the price has been below the entitlement price?

It looks like DAR are groping around in the dark like the rest of us. 

I am happy to concede that WOR might be a world beater in the longer term. 

However, right now I am focused on what it will be worth at the end of next week because I have a soon to expire free option to buy at $15.56.

Thoughts?

Cheers