In my opinion something doesn't appear to sit right with the way this has all unfolded.
One must wonder whether the holders that appeared to "drive" the share price down prior to the cap raising weren't the same ones that were the recipients of the cap raising shares? Especially if they were "in the know" about a possible take over!
Given this deal appears to have been "a long time in the making" you would also have to question why the cap raising was considered necessary in the first place. I suppose the price had to be low enough for a 6 for 1 scrip offer to work!
Of course this is just my opinion, but hey what would I know I'm just an uniformed little old shareholder sick of getting munted by people that supposedly "have your best interests" in mind.
As far as I am concerned the Board of Directors and Management of many ASX companies are quickly becoming like used car sales men and lawyers (sorry to all those genuine used car sales men and lawyers), you cant trust a word they say!
IGR Price at posting:
40.0¢ Sentiment: None Disclosure: Held
