AGL’s rights issue (redux!) opened today, and thanks to all the antics and tricks pulled by promoters in the last 1 year, the issue was locked in lower circuit through the day.
Today (April 25th) evening the chairman sends a note exhorting shareholders to subscribe to the issue:
Does anyone know what happens when a rights issue falls through – what happens to those shareholders who didn’t sell their rights and wanted to subscribe.
Disc.: invested and negatively biased