Rifici is right with his posts, but I worry even further that the SPP take-up wont be well received and the price could fall below the issue price and thus shareholders not taking it up.
Even at a 10% discount to the average price for the past week will have the offer at mid $1.50's. I could see some of the small insto's selling her down after the SPP close and try and terminate the whole offer for a new revised lower price one.
The short/medium term share price upside is limited, at full take-up the dilution will be large, debt is huge in this climate and covenant breaching can't be far away.
Smart investors put a stop loss on all their stocks, Hills is no exception.
P
HIL Price at posting:
$1.59 Sentiment: None Disclosure: Held
