well that is sort of based on the theory that people paying to...

well that is sort of based on the theory that people paying to take up the rights issue will sell them for a minimal profit.

The problem I see with that, is that most shareholders would look at it more along the lines of "averaging down" the cost of their holdings.

Also, remember the insto phase of the rights issue already been concluded weeks ago - and they had the opportunity to sell in high volumes over 30c if they wanted to.

So the selling by people after they get their new shares in 2 weeks or so, you have to think of the retail not insto mentality.

It remains unclear to me, what the "hedging" and "arbitrage" activities are which allegedly constitute the legitimate loopholes in the short-selling ban.