Fairwood shares slumped yesterday after the fast food restaurant company served a rights issue plan on its shareholders. The stock slid 21.2 per cent to 42.5 cents as investors feared a dilution effect. Fairwood had said it planned to raise $83 million by way of a rights issue of not less than 237.24 million new shares, at 35 cents each, with one rights share for every two existing shares. Dharmala Securities research director Ben Kwong said: 'Investors will not welcome the rights issue. The company's recent results were disappointing and this will be seen as another penalty.'