IMHO, that presumes that existing holders will get a look in on...

IMHO, that presumes that existing holders will get a look in on the CR. However, I suspect that it will be a quick placement, as management will surely not want to be bogged down in a rights issue.

If that's correct, then very few if any existing holders will be invited to participate. In such circumstances, the lid that has been on the SP over the last few trading days would hardly be palatable to existing holders, as it will help determine a lower ball price of a placement in which most existing holders will not be invited to participate.

If it's not going to be a quick placement, but a placement + rights issue, or just a rights issue, then I will be fascinated to learn what underlying rationale might exist to divert management's full attention for 6 to 8 weeks or so, from pursuit of organic company growth.

zeno9