I wonder if the delay in any announcements on the rights issue...

I wonder if the delay in any announcements on the rights issue has anything to do with the underwriting possibly falling through?

With the share price at the current ridiculous levels I would expect that Prestige Glory may be trying to renegotiate the terms of the underwriting and even the terms of the rights issue and the price. With many under writings, if the share price falls below an already heavily discounted issue price the underwriter either has a get out clause altogether or a right to reprice. I saw Pattersons do this with NAV a couple of times last year. It killed it.

For ZYL shareholders sake I hope the rights issue pricing doesn't get lowered and that the underwriting is firm.