Under what circumstances should an IT run a big, dilutive share issue, without pre-emption rights?
Today's announcement from JLEN[1] basically says "we're raising funds because we feel like it" - the funds might pay down debt or might acquire new assets. If there were a specific purpose for fundraising, I could at least take a view on whether it merited my support: it might even look something like a regular corporate action. But when it's just vague empire-building, I'm minded to vote against disapplying preemption rights.
[1] https://www.investegate.co.uk/article.a ... 700055169E
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Dilutive Fundraising
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UncleEbenezer
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