Today Billiabong announced the long overdue rights issue that we all knew it had to have..a 6:7 pro rata rights issue at 1.02!!Big 44% discount means you have no choice but to take it up if you are a holder!

Amazing that they knocked back private equity back in February and now look at them..done good guys ..must be time for a pay rise…and all this before the new lady comes on board!!She won’t last long and at this rate niether will Billabong share price!

You have to take up the rights and pray for surf!

Clarence

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