I had forgotten that my additional comment was in relation to the time between its announcement of CR and a few trading days later. It took the market a few trading days before it started to impute into the share price the effects of dilution. This shows that the market is far from efficient- in an efficient market, the market would immediately discount the share price or normalise it to the revised share base. This shows again that perhaps retail traders do not given any consideration to the widening share base. For a few days the market had the price at 12c , which actually meant the value of the stock actually increased by 13% even though the sp remained static. It is always important to understand the overall market capitalisation of the stock as measured by the share price x the number of shares in issue.
