Re 'Perhaps it is for existing shareholders, (as it should be I reckon)' ... I agree that it should be, but I've been through quite a few capital raisings and it would be a first if they actually offered it only to existing shareholders. They always go for the "let's give other investors a chance to join the register" approach. Mind you, with it trading down to 9.2c today there won't be a mad rush to go and do that.
I've always been positive about DES, and given them the benefit of the doubt, but I must say I'm very disappointed with today's move. As you say, even if they really did need the capital raising, at least give the good news first (re. building sale) and allow the SP to get off the canvas.
As for your "theory that these guys are smarter than [you]" ... after today I wouldn't be so sure.
Cheers (heh, it's only money)
DES Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
