"So if there is to be a next time, MSB will need to hold a gun...

"So if there is to be a next time, MSB will need to hold a gun to all investors, pay up or!
Really madamswer."

Yes, that's effectively what a non-renounceable offer does.
Which is the last one they did.

I'm talking about a fully renounceable entitlement offer.

(Uh... you do know the difference between the two, @Bazsa? And what their differing implications are for shareholders? Because your line of questioning tells me you definitely don't.)