Bacon100,That was my next point, I agree with you 100%....

Bacon100,
That was my next point, I agree with you 100%.

Management did the exactly same thing on the last rights issue, enabling Droxford (Salim Group) to increase their holding to 28%, through the 19.9% barrier without having to make a takeover offer for the full company.

The big question is who is Eventus Advisors as they are the underwriters and they will be entitled to take up any shortfall. Don't be surprised if Eventus Advisors have some connection to Salim Group. Management as you say are delivering control of the company by stealth with a zero premium to market. The only people getting hurt are the small shareholders like me and you.