Guess we will see Insider on this tomorrow as no one does it better.. (and back from the sin bin)..
With rights trading tomorrow and only for a short time, I am tipping pretty interesting times.
KEY will not have gone to this effort without due consideration of outcomes (for a start it is more work and secondly opens up critique if they fall over).
Thought thru logically, they need the rights to be converted or they dont get money.. a pointless exercise. They could have just done a non-renouceable issue at 11c and many (if not most) would have taken them up.
To make them renounceable is to add a layer of adrenalin to the exercise..
For whose benefit is it?
KEY Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held