A good question Conwy, and as I understand it, they can.
Wouldn't that be an validation of his faith in our forward potential?! And I'm tipping he just might, as an $840k one fingered salute to the knockers.
No idea how deep his pockets are, and I guess he'll grab the 4.5m odd he's entitled to via the rights issue ($85k).
IMO, the only way a non-exercise of his 2.1's will look acceptable to me is if he somehow collects up on some of the RI shortfall, and pleads poverty around the difference.
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