You know one of the major local chief shafters is in here .................

When was the last time a rights issue had value? Nowadays floating monkeys is the norm.

Things are thick,demand drying with sellers looking for any available exit window.....poor timing and the transaction adviser gets his full pay.

Your numbers don't seem to add up - just check them before we give advice.

The cost of the shares that you have right now is around 11.50 per share (60,583/5,250). If you were to sell now, say at 4.50, you would lose 36,958/- (60,583-23,625). If you buy the rights (increasing your holding to 9,765 shares) your new cost price per share will be around 8.15 (79,546/9765). If you sell all of them at, say, 4.50 you will lose 35,603 (79,546-43,943). My advice is that if you don't need the money urgently, buy your rights and wait for the price to go above break-even before you sell. Of course if you need the money, then you'll just have to take the hit, if you can find a buyer.