re rights issue. sp way below 10c rights price. who is going to...

re rights issue. sp way below 10c rights price. who is going to participate and get an instant 20% loss? Only one, the underwriter who gets around breaching the 20% shareholding limit without making a takeover offer. ie prime gets control without paying a takeover premium.Only one winner & it's not us. I might purchase my entitlement on market and stop any dilution. In todays market if you need cash you are certainly going to pay for it and the non prime shareholders are certainly doing that in this situation.