Management don't care if shareholders don't take up their entitlement, they is why they did the placement to instos.
They are offering the 1 for 6 simply as a good will gesture to shareholders.
If shareholders are really interested in buying more then you can do it now for a further discount. Who really cares about the 1 for 6 t 0c when you can buy as many as you want a 28c.
It does appear however that every time this company is on the cusp of something special Management come along and hit it on the head with a sledgehammer.
Personally I could see this stock breaking through 50c in the next few days had this announcement not been made today. Then perhaps a placement at 40c would have been a distinct possibility in a few weeks time. 25% less shares issued for the same money..
Timing is everything in the share market and their timing is pretty ordinary in my opinion.
NRT Price at posting:
28.2¢ Sentiment: Hold Disclosure: Held