amer, I generally agree, but we must note that the company as an...

amer,
I generally agree, but we must note that the company as an interest in getting the rights converted and if they were looking to mellow some holders with a bit of a profit this would be a good option?

I think 1m is a bit steep, if we use 200,000 rights for $2,000 and share price settles to 10c then to convert to shares at 11c means we essentially paid 12c for the shares.. in this scenario which means we 'lose' $2k in the short term but still have 200,000 shares... for KEY to come back to 12c is quite realistic so no real loss.

However 'if' sp heads to 15c then we have picked up an easy $10,000....

I am tipping that they are not about to risk the loss and are more focussed on getting it over the line and keeping holders on board... After all they would know many of the holders very well from Hardman days and the IPO... Not many KEY share have really traded (50,235,947 in the last 12 months... which is 58% of scrip on offer and generally less or on par with most).