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Dr Wise issues dumb advice on rights issues
SFC, 25-May-2010
He says "but if you decide to let your rights lapse, then you will not need to take any action unless you want to sell your rights in the market." - duh, and why would you give something up rather than sell it for value? Let's change that to "If you decide not to take up your rights, then you should sell them in the market for any value you can get" and we might add "because the company will not do this for you. This is not like the UK, where companies are required to protect inactive shareholders by selling unexercised rights and sending them the proceeds".

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