Ann: Placement to Raise $5.4m-IVR.AX, page-3

A 27% discount !! …this should have been a rights issue let alone a SPP. John Anderson & the Board is demonstrating zero respect for the existing owners of this long term disappointment. The corporate advisers / brokers they keep using are a tinpot back shed operation …no wonder they had to give their limited client base free money (in the form of the massive discount) to take the shares. This Board needs to take a long look at itself and ask whether this placement at this price was acting in the best interests of its shareholders. I’d say NO!