RSA had a rights issue a couple of years ago, which I took up and did nicely from. Finance was a problem which had to be addressed, it was, and a worry that had put downward pressure on the stock vanished.
The Gull - already trading positively? Do you have any reason whatever to believe that? Positive cash flow is the thing that keeps eluding them and getting put off.
malkie - there have been several occasions when the board have said a cash call is very much not envisioned. But you have to respond to pressing needs and be flexible about it.
A one for four rights issue at say 4.5p could raise the best part of £5m. If such a thing went ahead I could see the sp rising to 20p or so quite quickly.
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