If the rights issue is carried out 1:1 at those 0.6 and 0.5 prices, when the rights are detached, the share price drops to €0.55 and the price of the subscription right becomes €0.05.
If you sell the rights, you get €0.05 and there is a 50% dilution.
If you sell the shares and subscribe, you get 0.55 - 0.50 = €0.05 and there is a 50% dilution.
If you want to maintain your ownership in the company, you must subscribe and not sell.
Sometimes in rights issues, there are situations where the pricing is not efficient and an arbitrage situation occurs in one direction or another.