"IMO its better that the shortfall rights go to other eligible shareholders who want to oversubscribe. Yes they will profit but will be more than likely to hold for longer term. Small longterm shareholders like myself can get a bit of the action."
+1 ... I will have a read through the new materials, but will very likely apply for more than my entitlement and will probably hold most or all of it.
Bloodwynch - they didn't deny reports of a capital raising at all. All they said was that the media reports on 13 July got the details wrong... specifically they stated that reported specifics relating to the "quantum, a cornerstone investor, the appointment of a specific investment bank and a timetable for announcement" were all wrong. Today's announcement confirms that the newspaper report did indeed get all of these specific details wrong.
The announcement at the time confirmed they had been looking at capital management options with no denial that they were looking at a capital raising.
VBA Price at posting:
24.5¢ Sentiment: LT Buy Disclosure: Held
