bby go substantial, page-3

I'd say so.

I think it's clear they need extra funds to further develop their portfolio, as well as reduce gearing. Current share price makes it difficult to do a cap raising or rights issue. Hence they are looking for board members with the funds to participate in a recapitalisation.

But with 3 mill on the side, I don't think its as dire as the share price would indicate. As long as the bank remains on side, the company may be able to trade out of its issues if market conditions improve.

A recap would remove uncertainties around the firms longevity, and would likely see it rerated.