Not convinced the issue will be oversubscribed, at least by small shareholders. Why pay 20 cents a share when you can buy now for 17 cents? Admittedly, you can afford to buy twice, or almost twice as many, at 10 cents down!
Assuming it isn't oversubscribed, this would leave quite a few in the barrel for the people closer to the "apples" to accumulate, assuming the "apples" are about to ripen.
One might hope that production of 15kg is reached and sales announced before the close of rights issue, or is this expecting too much from a company that aims to increase shareholder wealth?
SLA Price at posting:
17.0¢ Sentiment: None Disclosure: Held