JRI IVZ Fireside Chat - March 26, page-379

Have to agree this is another black mark next to management's name (in addition to this capital raising debacle).
To say they could see it was going to fail, and therefore didn't participate, sends a terrible message to those stupid enough to subscribe to the rights issue at a slight premium to help fund the company.
It also goes against the image of SM as a straight shooter (who I have previously admired for his willingness to engage with shareholders on the technical side).
Quality of management - and trust in management - are critical factors for me in holding a company, especially when we are essentially waiting and relying on vague promises that funding and the PPSA are coming through soon.
Pretty close to pulling the pin. Something meaningful better happen in the next few weeks.