If/when Faron’s share price drops another 4% – it means that the subscription rights are worthless.
I wonder what kind of agreements have been made with the market makers – I find it hard to believe that these, including HCM, have taken the risk without a “guarantee for the guarantee” – meaning there are some conditions involved. Of course, it is in HCM’s interest that Faron’s share continues to be traded. It is strange in itself why they are essentially guaranteeing the repayment of their own loan at €0.50 per share, as under the current terms, the share price doesn’t matter to them.
We’ll see how this eventually turns out.