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Donald Pond's avatar

I can't understand why they didn't announce in November that they had received an indicative bid at £18.50 but rejected it. Then they could have likely raised funds at £16/17 rather than £11.50. It just doesn't seem right to reject a bid and then raise money the next day at a huge discount to that bid. If the company's shares were worth more than £18.50, why were they happy to create more and sell them at £11.50?

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Damien's avatar

Brilliant commentary.

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