If the cap raising is already covered then exsiting holders would miss out on acquiring new shares at this price and therefore have no option but to be significantly diluted.
At least if existing shareholders are able to participate in the CR they can retain a larger % of the company and benefit from any upside either project may deliver.
I also thought there had to be shareholder approval for the deal. Either way it will be interesting to see how it plays out
ROS Price at posting:
35.0¢ Sentiment: None Disclosure: Not Held
